I have a 5.3, but same block. I'm at 169k miles, I've beat on mine daily since about 99k. It doesn't burn/leak ANY oil, and I'm about to do cam/head swap on it. Biggest thing is IF something breaks, fix it RIGHT and put best parts you can afford into it. That way you're constantly upgrading the "weak" point.
Mileage isn't as important on these new motors as it was in the old days. Sure stuff wears, but long as you maintain it and replace parts at early warning signs, I don't think it's a big deal. I wouldn't hesitate to jump in my truck right now and drive cross country.



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