is it on steady or blinking?
Should only blink on 90-91, which have that evil RWABS.
Oh, and to the OP, the combo valve is what actually sets the light, so if you have a major difference in pressure from front to rear, the light comes on. This can be due to low fluid, but if it got that low, the system prolly needs to be bled of air, as mentioned.
It can also happen during brake servicing, and all that need be done is pushing the rubber nipple (heh heh, he said "rubber nipple") on the combo valve. On your truck, it's on the back side of the crossmember; there's a metal box about 1" x 4" with a bunch of plumbing going into it, and on the ... hmm, IIRC driver's side, you should have a rubber nipple about 3/8" or so diameter, maybe 1/4" thick. Push it in -- you can do it hard, but just with your thumb, don't use a hammer or anything.
Doesn't hurt to reset the thing; worst case if something is wrong it'll pop back out again and you go through the above steps.
HTH.
-- A