The first thing to go wrong with the Z-71 was the U-joints. I changed them at approximately 130,000 miles and once I got them out I could tell they had never been changed. It was a simple, inexpensive fix.
Second was the control arms, pitman arms, and tie rods which were changed at approximately 140,000 miles. The front end lasted a long time considering the abuse it takes (I do a lot of off-roading. It was a costly fix, but now the Z-71 has a completely new front end so it was worth it.
One continuous problem is the brakes. The truck hops a little when applying the brakes from time to time even with new pads, the rotors may be warped. I don't really know what the High School senior put the truck through up to 104,000 miles, but it isn't too bad.
As far as ride comfort goes, being a single cab short wheel base, it is rougher than what I really like. I'm working on making it smoother and less stiff and bouncy.
I personally love this truck. It has 150,000 + miles on it and it still runs like a scalded dog. With the few mods I've done (K&N cold air induction, throttle body spacer, true dual exhaust) it becomes a monster off road (I've nicknamed it the Z-Monster) and goes through and over almost anything. Gas mileage is reasonable for the power I get out of it and it is a real head turner, I've gotten a lot of compliments on it. This truck with that many miles doesn't leak motor oil,however, it does have a very minute transmission leak. I've never had any transmission or engine problems and this is the only vehicle that has never broken down and left me stranded. Funny thing is this truck has more miles than any vehicle I've ever owned. I do routine maintenance and keep it immaculate. My goal is to hit the 200,000 mile mark.
You should be able to reach the 200,000 mile mark easily. Eventually along the way you'll experience some parts failures, However they will most likely be inexpensive. General Motors products of the 90's are some of the most reliable vehicles on the road. My father has an S10 pickup with 300,000 miles and it is still running strong. I have a 97 Z71 with 250,000 miles and she is as smooth as she was the day I bought her. I also have a Pontiac Firebird with 200,000 miles and it to still runs well considering its age. The key thing these vehicles have in common is that they flawlessly Maintained. Regular service at recommended intervals can extend the life expectancy of these vehicles to a reasonable 300,000 miles or more.