We bought our '89 K1500 with a 350 which was on it's last leg. Burned nearly a quart of oil every 300 miles and had a burnt valve on cylinder #1. 224k miles on the clock. Despite my fears, best thing I've done so far was have a junkyard motor swapped in from a '95 G3500 van. This motor supposedly has 140k miles but uses no oil and runs like a well oiled machine. I've put nearly 5k on it so far over the course of a year with no issues. I'd be afraid of a rebuild since the term "rebuilt" doesn't mean the same thing between shops. I do trust factory motors though, but the problem is maintenance history. My case certainly felt like Russian Roulette (as I expected this engine to be just as crappy) but for once in my life, I lucked out with it and you could too. Go with one that's 1991+, check the spark plugs on it for oil deposits and check compression before you pull the trigger. Also, while this may be splitting hairs and circumstantial, check the area around the oil filler cap. If the paint is missing or worn down and the cap's writing is illegible or not even the factory cap, probably an oil burner.