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It all depends on what your towing plans are. I have a 2001 Chev with the 8.1 . I pull a 2001 2880RL. Bought them both new. Truck now has about 52,000 miles on it in a span of 12 years.
When I did my calculations the additional cost of the diesel would not pay off when you look at overall operating costs and the miles I planned to tow.
Do I wish I got the diesel? Sure, but at what cost?
As far as reliability, 8.1 is a great engine. Expect some piston slap noise when cold and high rpm's when pulling a big hill. Have never had any engine problems and I use regular dino oil. Like all Chevy big blocks, expect some oil usage.
Mileage is poor when empty as compared to the diesel and about 1 or 2 mpg lower when towing. Since all my miles are towing, that is acceptable to me.
For me, I'm happy, but as you can see from above, I'm not towing that much.
One thing I will say is the ride quality is horrible. I've added air bags, air hitch and still feel like I have to wear a kidney belt when towing on rough roads or California freeways.
I would think that you can pick this up for a really good price.
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