I owned a 4.6 liter S10. Didn't have nearly the problems Bob has had. I sold it last year with 175K miles on it and replaced the normal stuff, (battery, alternator once, tune up stuff.) Overall reliable rig, but I didn't think it made a good tow rig. A friend of mine had a 98' Explorer(v-6) and transmission went out at the 50K mark. This was due to pulling his 19' sled around on weekends (no doubt). I now have a 98 F150 that gets 16-18 MPG with a small V-8, which is about the same as the Blazer. For me it made sense to have a fuel efficient truck that won't wear out from the weekend towing. I don't think its the motor you should be worried about, I think it is the drive train.
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United we bargain, divided we beg.