I feel bad for anyone who buys a 3rd gen. What a worthless pile of an electronic mess. I will list the reasons of why I would take my 96 12v over a 3rd gen... .
-Less valves
-mechanical injection pump
-lower maintaining costs b/c of simplicity
-no major on board computer controling whole truck
-has a throttle cable
-thicker sheet metal
-comman dana axles
-less dodge parts to break, such as plastic parts, sensors, extra doors.
-last but not least, a manual 12v truck can still run in a nuclear fallout :-laf
Only positives to a 3rd gen are 4 doors for a family, the stonger bed, and better factory front 4x4 suspension and brakes. However, you can always put a nice hauler or faltbed on a 2nd gen or upgrade the front suspension and brakes. The 2nd gen is really a forever truck, 3rd gen won't be.
We can debate for days but I can bet in 2014 that there will be less 2004 models still on the road than there are 1994 model 12v ons the road right now...
good luck, don't get sucked in. buy a 3rd gen but keep your other truck, can't hurt having 2 trucks around. Especially when that drive by switch breaks on the gas pedel and the new electronic rats nest wont go anywhere. That ole' 12v will come in handy... :-laf Oo.
my 2 cents
erik