After lots of searching and failing to find or manage to buy anything that really fit my parameters (which is confusing since they were very vague ones...), I finally succeeded in buying a winter beater over the weekend: a shockingly rust-free 2000 Chevy Blazer 4x4 with a horrendous rod knock. It has about 160k on the clock.
The good: As previously mentioned, it is VERY rust free. I commonly see S-10s and Blazers half as old with lots more rust than this truck- there's just one small spot that may need addressing (in front of the passenger rear wheel and into the bottom of the door jamb), otherwise it's not got ANY rust. The exterior on the whole is above average, especially for its age. It does have some scratchs and scuffs and has a dent the size of a baseball on the passenger front fender, but it's nothing that a paint touch-up pen and a dent puller wouldn't easily take care of. The black trim is a bit faded- will have to see if some Back-to-Black will shine it up well or if it's far enough gone to need to just hit it with some Trim Black spray paint.
As far as I know, besides the engine issue the rest of the mechanicals are in good shape. It has a good number of newer parts on it- it apparently had a good bit of work done about 2 years ago including a new starter, catalytic converter, and from the looks of it the radiator.
The bad: It needs a new engine, there's no two ways about it. I heard it run before buying it and decided that it was just NOT going to be a good idea to try and drive it the 2 miles to get it home and that it was worth the cost of towing it. Also annoyingly, since it's a 4wd the front hardware prevents the oil pan from being dropped so I can try and slip a new bearing on to get it drivable temporarily.
The good news with regards to this being that it has the 4.3 Vortec which is VERY common and cheap to come by. Yes, as has been mentioned in the original thread when I was considering buying this, I could drop something larger in- but that would likely make it harder to resell down the line.
It does have a number of small quibbles in the interior to be dealt with- the Blazers apparently have horribly designed interior door panels that break left and right, and both front panels are broken. I found a passenger-side one in my salvage yard run the morning I bought it, but couldn't find ANY driver's panels in the yard- and they're like $150 on eBay. Hopefully the yard where I'm hoping to get a new engine will have one I can snag. The center console lid is also broken, which is another common thing on pretty much any car. That should be easier to find (both in the yard and they're much cheaper on eBay).
The seat back adjuster for the driver's seat is broken off. The seat itself is fairly worn but not ripped- if I can get lucky and find a replacement seat in better shape I may grab it, otherwise I'll just pick up a replacement handle and fix the existing seat.
The interior does need a good, deep cleaning as well- the previous owner unfortunately smoked- but it's just worn not ripped or damaged, so I know that the place I've had do interior detailing before should be able to improve it markedly.
It also probably needs shocks, but I'll worry about that after getting the engine replaced.
To Do: Replace engine.
I started yesterday prepping to pull the bad engine out- got as far as getting the radiator out and the fan off. Would have gotten the A/C condenser loose and figuring out if I could pull it out of the way too, but ran out of time. The A/C system appears to have at least some charge in it, so I don't want to breach it if I can get away with it, but I'm not sure with the lines that are there whether or not I can safely move it out of the way or not. The plan is to pull pretty much all of the doghouse off to make it less painless to pull the existing engine and put in the new one.
If I make enough progress over the next few days and am able to track down some assistance for Saturday I may take off a half day on Friday and head out to the U-Pull-It yard with the best selection of potential donor vehicles & prices on engines to pick one out and then hopefully head out to get it on Saturday. The difficulty being that I'll need someone to help who has either a truck we can put the engine in the back of or a vehicle & trailer to put it in...
Costs So Far:
Purchase of Vehicle: $400
Towing: $55
Passenger door panel: $20
Total: $475