Not sure what you mean by "can you drive it daily".
A little google searching found this.
Gear ratio for the T5:
Gear Ratios : 2.95, 1.94, 1.34, 1.00, .62
Gear ratio for the T56:
Gear Ratios : 3.36, 2.07, 1.35, 1.00, .80, .62
Little bit deeper gearing in the first 2 gears on the T56 but you're going to have plenty of HP to launch with the LT1 as a daily driver. The overdrive final gearing is the same so its a wash for highway driving. Top end, even with a 3.91 rear gear you're never going to come close to topping out with either overdrive unless you're insane, LOL!
Remember there are 2 different T5s, you want the world calss to take the torque of the LT1 and they are getting rare. The late model fbody cars only used the T5 with a V6. V8s got the T56.
All this coming from someone that went with a 4L60E automatic for my LT1 swap.