Owned for two years now, only driven it about 8 months of that time due to mechanical problems that cost more than I could afford.

1982 K5 Blazer with 6.2l NA Detroit diesel engine and 700R4, 3.08 gears.
Price $1,200

And repairs...
Head gaskets, exhaust gaskets, J-Code intake, new intermediate steering shaft off an XJ,
rear and front brakes including calipers and slave cyl, shoes & pads, master brake cyl.,
transfer case seals & gaskets, yada yada yada (All this I did myself)
Price: $600 (for parts, I did the labor)

Ring and Pinion bearing:
The fact that it was geared to a gutless 3.08 ratio, and the small fact that a worn pinion
bearing resulted in 3 lost teeth on the ring gear, I had the front and rear re-geared to
4.11 AND had to replace the spider gears in the rear.
Price: $1,200 (parts & mechanic labor)

Transmission rebuild, the 700R4 finally blew the ghost... tranny expert says... someone
tried to rebuild prior, but did a fantastically shitty job... holes boared in the case that
wasnt supposed to be, file marks on the sun gear housing, etc.. etc.. Final result: The
transmission that is in there.... is not the same as was taken out! "New" and fully
rebuilt trans, torque converter, flexplate and all hardware...
Price: $1,600

Total investment thus far: $4,600
Actual resell value: $900

Satisfaction for driving a mechanically "like new" BEAST: Priceless :-)

EB