Switch from old style to new style parking brake system?

[arrover]

My '82 crew cab looks to be missing a lot of the parking / emergency brake system and I'm not comfortable with that. It has the interior pedal and some rusty rear cables but I think that's it. Do you guys see any issues with switching over to the new style setup? It looks much simpler and looks like it might even work smother. It appears that all years use the same pedal so I wouldn't need to replace that. Also, do the 1 ton trucks use the same E-brake parts as the 3/4 tons?

1973-1983 style: http://www.lmctruck.com/icatalog/cc/865w/0166.jpg
1984-1987 style: http://www.lmctruck.com/icatalog/cc/865w/0167.jpg