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I'm entering into my 10th year of ownership on a 1985 Chevy G20 with the 305. I've put about 70-80K on it in that time (odometer shows 156K, but the speedo cable was broken for about a year, so God knows). All the GM antipollution stuff is still hooked up and working. Even has the original "computerized" Quadrajet carb.
It's got its quirks, but as long as I remain patient with it and don't mind screwdriver surgery once every month or two, she'll last me the rest of my life, even though the Buffalo snow and salt is taking its toll.
You'll probably need lower control arm bushings, your windshield will drip water on your right leg when it rains (happens to every one of these old vans), but other than that it will give you many years of reliable service. Mine gets at best 15 MPG on the highway whether it's fully loaded or empty.
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"Restoring a tube TV is like going to war. A color one is like a land war in Asia."
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