Dave,
I have 2001 alloys on my 1997. All I had to do was shave down the outside lip of the rear brake drums. Cost was one hour labor at the local machine shop (they used the brake lathe) I did not have clearance problems on the front end. We did try the same rims on a 1998 12 valve and had clearance problems with the tie rod ends. 5 minutes and a grinder would have fixed it no problem.
I would do this again in a heartbeat. It allows me to run 285s and keep them under the truck. Meaning they do not stick out past the fenders.
T-Bone