125,000 the front end will be gone. You will need to replace bushings, ball joints, wheel bearings, tie rod ends. I did it to mine. Drives like new now. I also put a solid steel steering stabilizer on mine and that tightened things up significantly in the steering box.
Lift pump- I have heard all kinds of stories and you will always rememeber the worst. Mine went out at 144,000 miles. Died in the driveway. Most engines continue to pull suction from the tank and keep running. The lower pressure cavitates the VP44 injection pump and it dies. Also the electronics on the pump had some issues. Mine has 200K and is still on the original injection pump and second lift pump, knock on wood.
Transmission - My truck doesn't have a chip. Never has. I get 21 hwy miles. 3.55 rearend. I can pull my Super M Farmall and it does fine. Now if I was going to pull more, I would get a standard transmission, or maybe have it rebuilt. Key here is keeping it cool.
Also, turn the key on off on off on and read the codes that come up in the odometer. Should so PCU and ECU codes.
dieseltruckresource.com is also another good resource.
The 24 valve dodge is a good choice, just be ready to do a little mechanical work every now and then. I am hoping my truck will go to 500K
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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