Well I'm in the same boat... I just put my truck up for sale and if it sells for a decent price Iwill be ordering a 3rd Gen. The main reasons are:
Brakes - I'm tired of sinking $$ into my brakes. Rear drums suck. EGR kit is $2000+ for front and rear. The new truck comes with 4 discs, and bigger ones at that.
transmission - It's due. I figure $4500 to have DTT go through it in order to handle the power I want. The new truck has a 48RE instead which will handle more power stock, and which I don't have to worry about for at least 100K miles with the new truck warranty.
Power - Sure I can easily get 325/600 or more out of my 2G, but not until the transmission is done, and even then there's no warranty and I'll probably end up blowing the VP44 sometime in the next couple years. That's another $1000 and time I don't want to spend workin on the thing.
New features - I really like the extra 4" behind the front seats. The fold flat metal floor and 60/40 split rear seat will give me a place to put my fridge/microwave on long trips without my woman having pull her seat up and sit with her knees in the dashboard. I love all the new storage places for a variety of reasons, but especially the stash compartment under the middle seat.
Load capacity - I can get a *1 TON*!!! I always wanted a one ton single rear wheel... now's my chance. Also comes with a class IV hitch which is nice since I'm about 2000lb over the limit on my class III right now.
Longevity - again, due to the brakes, transmission, fuel system all being better built. Plus, I don't have to worry about them for at least 100K.
Cons - the main down side to me besides the $$$ is that the new interior looks straight out of a minivan. Also there is a lot less room in the engine compartment for extra goodies which might make it hard to add onboard air or welder down the road. The sheetmetal is supposedly thinner, but looking at my friend's 3G I don't really see this as a problem.
All in all, I can't wait!
P. S. If anyone in the CA area is lookin for a truck like that in my sig, take a look here:
Trader Ad I am flexible on the price, just wanted to start high since these things really hold their value in this area.