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They are both good trucks. If you want to do any mods to the 12V they are going to have to be all mechanical since you can't use electronics on them. The 24 valves are good too and have a lot of options with tuning since they can have programmers used on them. However, the main draw back on a 24V has to be the lift pump. In the whole engine that's the weak link. I like them both, so other than what I just said I can't offer any more advice.
OK. Now that DieselDemon expressed himself, I would personally go for the 12V. Its the last year for it and its in a good body. Its pretty much what I was looking for, but couldn't pass the deal up for my 24V
So, no one is repping the 24V?! If you're getting a 1998, go with the 12V. But if you're getting a newer truck, go with the 24V.
It really depends on what you want it for. The 12V's performance mods are A LOT cheaper than the 24V's.