To make more horsepower in my LS3 what would be the advantages and disadvantages of either installing a HOT CAM or SUPER CHARGER?

to be honest, they are really different ways of getting somewhere.

The cam upgrade would be a pot load cheaper...

Either way, I would upgrade the valve train a bit; roller rockers and better push rods.

A blower is a real easy way to get more power and be smog legal, but for some reason, I don't think that is a priority in MT!

A SC will get you a lot more power than just a cam. If you do a cam, you will need heads to really take advantage. I know the LS3 heads are REALLY GOOD, but you will run into limitations. I would think a port job would be a good start.

If I had an LSx motor, it would be a tough call... but head/cam upgrades can be done cheaper than a blower. And then there is the throttle response of a head/cam combo... finally, MPG is better with head/cam than a blower. Remember, a blower will create a parasitic loss.

Final thought... have you consider a twin turbo kit?

If you want to keep your heads get them CNCd by TSP or WCCH

What are you doing with the car? This will help decide what and how far you will take modding.

Twin hair dryers are the best or a nice single but for ease of bolting on a procharger or vortec would be the best bet for top rwhp. If you just want some stop light fun a twin screw or tvs would do just fine but have ~850rwhp limit. They dont boost well over 18psi. Increased IATs.

I imagine the personalities of the two might be quite different. Depending on the cam, you might introduce drivability issues, real lumpy idle, etc., where a supercharger would be docile until you put your foot in it.