Here's a little 6.5 history lesson.
'92-'95 Are OBD (on board diagnostics) I.
'96+ are OBD-II.
'92-'93 Have the DB-2 mechanical injection pump, but are otherwise similar to the '94-'95.
'94-'96 Have an in-adaquate cooling system that often resulted in overheating if one doesn't keep an eye on their temp guage.
'97+ Have an upgraded cooling system that rids most cooling problems and also have oil spray holes that do weaken the block, but do not really result in many more bad blocks than the previous.
'94-'00 Have a thing called a Fuel Solenoid Driver, or FSD for short. It is an electronic device found on the side of the Stanadyne DS-4 injection pump that often gets cooked, resulting in an often mis-diagnosed bad IP.
'00+ General Engine Products (GEP) (A division of AM General) now makes the 6.5TD for the military, and some civilian dealers. These newest ones are pushing 240+HP and almost 500 ft-lbs of torque, and they're still in-direct injection.
There's a short (in comparison to the history of GM Diesels) history of the 6.5, and some of its issues, most all of which are (very) easily fixed. Will it compete with the more modern Duramax, Power Stroke, or Cummins? No. But, it will put down a very respectable 200 HP with only bolt-on mods. They normally last 200-400K, and are a very reliable engine, if you do your homework.