Sweet car to be coming from, My dad had a 70 Chevelle SS with the 454, I should kick his butt for getting rid of it before I could get my hands on it.
I have never had a problem with my 03, no factory issues at all. I am thinking about selling it though, soi can buy a home and then get another down the road. Things to look for when buying one it the listen for the head tick problem, which is not as big a deal as some make it out to be. You just really have to look for the basic issues with any used car. Mine has treated me very well. I got it (my 2003) in April 05 with 115 miles on it and I have loved it ever since. It has been my daily driver, but it is going away for the winter.