I have owned my 97 GMC Suburban K1500 for 4 yrs. now and my wife drives it everday and likes it. Mine had a new transmission 1 yr. before we bought it. It's got 136K on the clock and other than dripping a little oil on the floor, it's been a darn good truck. Mine has the 5.7L Vortec and if I drive it the speed limit it will get 16.5 mpg on the highway. Sounds like a heck of a deal to me for $1,000 if it's not too rusty.
BTW, welcome to the Board.
Dave