So, since I can't make up my own mind... (and I'm such an Impulsive buyer...) I definitely need opinions of what my next step is... (next step being about 15 months away) But, you need to hear the story in order to have an honest opinion. (I'll try to keep it interesting.)

So, in April of 2011, I went back to Florida on leave. I was intent on buying a truck. (Used to have a sweet 3rd gen, total sellers remorse)
Well, a day after I got to FL, I noticed a SWEET truck at a local used car lot (the truck I have now) So, I dropped 5 grand on it. Did the usual stuff, because I like peace of mind... Oil and filter change, new pcv valve, new plugs, new air filter. And I'm happy. Granted, the thing was getting like 8mpg, and had barely any *** to it... (Plenum maybe? Lol.) But I had a badass truck.
Fast forward 9 days, and I'm traveling across FL to West Palm Beach to see the inlaws. (Bout 177 mi one way) Very early into the trip, I came side to side with a Tundra, and after the light, the 2 lanes merged into his lane. SO, not willing to be beaten by a toyota, as soon as it turned green I floored it, spun the tires (and "won") But, what should've been my first indicator something was amiss, is when I looked out my pass. side mirror, and saw what looked like a cloud of rich diesel exhaust. But I kept on going. (Mistake #1)
So, I get to my halfway point, a little gas station to top up, and when I made the right turn to enter, the oil light came on. But when I straightened back out, it went off and the gauge read oil pressure again. Didn't think too much of it (mistake #2), so I filled up. paid, cranked her back up, and drove off. about 30 mi down the road, it starts doing the oil light and no oil pressure thing again, except when going straight. But I noticed whnever I swerved right, it would go back to normal. For about ten seconds. But, I was way too far to turn around. So I kept going, swerving every ten seconds. Until about 30 miles to go it just stayed 0 psi. So, freaking out, I pull into a store parking lot, and I get out and take a listen, and also inspect my pan (to see if I hit anything) everything seemed fine, but I heard what I thought was slight rod knock, so I drove it. 30 miles. Praying to god I made it to my father in laws.
Needless to say, I made it. Immediately told him what was going on (he's a master mechanic. Chevy guy, though...) so I started it up and he listened and prompty told me it was lifter noise, and to check my oil.
If you guessed no Oil, please pass go and collect 200$. So we went out to eat, stopped at Wal-mart (LOVE THAT PLACE) and got 5 quarts. poured it in, cranked it up, no more noise.
The next day, we went to his shop, and let me use his compression tester, and I was getting mid 120's normal and mid to high 130's with oil. So we figured the jackass who owned it before me didn't realize he had to change the oil, and the rings were stuck. SO, I drove It back across the state (with an extra 4qts in the tool box) Stopping every 60 miles to check the oil and add oil. Got home, and, following his advice, with the oil at the "add" mark added 1 qt of ATF. And let it Idle for about an hour. Then, I changed the Oil and filter. Did a compression check and low and behold im sitting in the mid to high 130's. Still no ***** though...
Mum's been driving it around, maybe 40 miles a week, and has reported no loss of oil, But now that I've joined here, I know it HAS to be the Plenum. Has all the signs....
But anyways, the question is What to do? I know I drastically shortened the lifespan of that engine with that oil-less 30 mile trip (at 40mph)
Here are the options I've thought of.

1.) Go ahead with the mods I've posted elsewhere (Search 2500 worth of parts), and further on down the road get a short or long block when the need arises?
2.) Cut half those parts off the list right now, and get the short/long block and deal with it now.
3.) I don't NEED a 3/4 ton. I dont Haul anything really, and the most I use the truck for is ply wood and Gravel. I'd like to find a 2nd Gen, 1500, 4x4, reg cab, long bed, 5.2, 5 spd. That would suit my needs just fine.
4.) Trade in the truck for a 3rd gen 1500, quad cab, 5.7, 4x4 (like my old 3rd gen)
5.) Buy a totalled diesel and do a Diesel swap (I like diesel)


I Love the 2nd Gen. I was born In 89, an as far back as I can remember, THAT was the Ram. Also, Walker Texas Ranger.... lol.
I'd just like 'yalls opinions. I'm a blue collar, hard working guy who doesnt get a lot of money. (If I did, I'd have a Brand new 2012 2500 with the Cummins and a six speed...)
I just want a long lasting truck that can go anywhere, get decent gas mileage (out of a V8)

What Do you guys think?

(P.S. I've learned quite a bit since then and looking back... boy was I a dumbass...)

 

You might not have harmed the engine too badly with that run. The bottom ends on these things are what my old buddy Bruce used to call "hell for strong". What you might do is to get a yard or so of plastigage, some bright lights, a good inspection mirror, and so on, and just drop the pan to have a look-see inspection tour. If you've got a good reading from a mechanical oil pressure gauge, good rod bearing clearances, and no signs of oogliness, you're probably good to go with the machine you've got.

If it works out that way, do the plenum/cat/oxygen sensor thing, stuff a PATC Viper/Mega Viper in, show the PCM a tuner, and be happy. And spend entirely too much money on the thing as we all do.