It is a good looking truck, but my opinion is that it's not worth anywhere near $16,500.
1) It's not a true restoration - it's a restomod. A true resto goes for original condition, whereas that truck has aftermarket body parts (cowl hood, mudflaps, etc), a lift, non-stock drivetrain, etc. I'm guessing the other parts used for the resto are not GM new old stock (NOS). True restos bring a lot of money because they are rare and difficult. Restomods can fetch some nice prices, but only because they find that special buyer who wants them built a particular way.
2) These particular trucks (K5's) seem to bring more money modded for heavy wheeling than they do made to look slick. Things like one-ton axles, beefed up steering components, etc seem to bring more return than anything else. They're not old enough and there's too many of them around to be true classics yet.
3) I'm from Wisconsin originally, and I do understand that most K5's left in the upper midwest are used-up rustbuckets. That being said, you could spend $5-6k on a super-clean truck just like that in the desert southwest, pay gas money or transport fees to get it to Des Moines, and still be WAAAYYYYY ahead on money. A few years ago I sold a California truck to a guy all the way across the country for just such reasons.
4) A ZZ4 is a great engine, but great engines generally net disproportionately low returns on vehicle value.
5) "Corvette Internals" on the transmission very likely means simply a corvette servo and governor. Nice to have, but not that expensive and not nearly as huge a deal as the ad implies.
6) I'm sure it's a nice truck, but dealers tend to overhype vehicles like these with a price to match.
