The 1970 LS5,4298 produced,does have more torque.500 @3200 RPM,and is more streetable.
The 1970 L78 is 415 @3600RPM.2144 produced.
But the L78 has a Higher compression @ 11:0:1 Vs. 10:25:1 of the LS5.
It is up to the owner to decide which he would prefer.
I prefer the L78.