The green plug on the PCM is what controls the trans, or so I've been told. The 5.7 swap would almost be easier. Not easy, just easier than the 5.9/360. Yes they can built to have power. Where's the budget end?
That's the NGC controller, the OP could also have the JTEC controller as (I think) the NGC computer was phased in late 2002. So he is in a crossover year for the truck in question.
Not sure if the 5.9 rig's stuck to the JTEC and the 4.7 could go either way? Certainly another trouble spot for this swap.