Everything Danny said. And you might as well get Water Pump Gaskets and Timing cove gasket. My timing gasket kinda tore so we had to patch it with RTV.
Re used valve cover gaskets.

 

Not saying its the best idea, but we haven't replaced a gasket or bolt on mine yet...been through 3 cam swaps. I guess we did recently replace the crank pulley bolt. It uh...disappeared during the last tuning session...which brings me to my next point. BE SURE TO REALLY TIGHTEN THE CRANK PULLEY BOLT

 

this will really help, thank you

even though it costs more, i ALWAYS replace gaskets when i dissasemble. one bad experience on my part, and a few other guys in the shop thats enough for me.

 

The hose in the pic is just a basic compression tester with and air fitting put on to hook into a airline from a compressor. Cheap and easy way to hold the valves up if you have a compressor.

 

The tool is from Vinci High Performance $100, but it is the best in the business. Don't waste money on any others. If you put the piston at TDC you don't need the compressed air hose since the valve can't fall that far, but if you use it for added insurance do use more than 50 psi if the plugs are out or the crank may spin. You can get away without changing most of the gaskets, but I never chance it with the crank seal on the timing cover. I use two 5/16" metal dowels to hold the lifters up while the cam is out. They are only used for the few minutes between the time the old cam is pulled and the new one is installed. This is an easy cam swap since the heads and intake are not removed. Good time to install an 25% underdrive pulley(ASP or Powerbond).

 

ls1howto.com.

alot of the gaskets and bolts can be reused.

 

I agree. If you are goin to do something do it right. When I did my swap I did everything on the top end. Checked the valves to make sure they were good cleaned the heads (also easier to do springs with the head off). Would replace all bolts like I did as well. I did all ARP bolts. It is woth it for the peace of mind.

 

I too don't believe in re-using gaskets, although many have done it without problems. Maybe if I was planning on multiple cam swaps and alot of testing, that would be different, but if I just planned on doing a one time cam swap, I'd replace all involved gaskets for some cheap insurance.

 

ive heard of using the 5/16 dowels but how do you do it...in the middle of cam swap on my 00 5.3 ecsb z71 right now...

 

http://www.ls1howto.com/index.php?article=23

about 1/2 way down it talks about the JPR Lifter tool method. same thing but with dowel rods instead.