160K is a lot of miles!!!
That's for you to decide if it's worth possible future engine work/replacement or transmission replacement. With the miles I drive, it would hit 200K in about 2 years. That model chevy is a very reliable truck, but once you start getting that high, expensive repairs become more likely.
I would check to see if it's been in a wreck. This board member is offering free carfax reports, you just need to ask the owner for the VIN. It is still possible it was in one, as carfax can only report back with accidents that were reported... lots of people get in fender benders and fix them themselves.
http://67-72chevytrucks.com/vboard/s...ghlight=carfax
It's not common at all for people to put an 03-05 clip on a 99-02. It's more common to swap them the other way around.
That really is a tough choice. When I was in college I couldn't afford to drive the 67, so I bought and fixed up a cheap 86 Toyota truck that got me through college. I did wind up swapping the motor twice with junkyard units. I was kinda hard on it
Also, to hell with what other people think about what you drive. Because I decided to not get the newest and coolest vehicle like everyone else does, I have 3 for the price of one