The only real difference between the 2nd Gen 12v and 2nd Gen 24v trucks is the lift and injection pumps. The 12v is all mechanical with the legendary P7100 IP and the 24v is all electrically controlled with a notoriously failure prone LP and similarly infamous VP44 IP.
The 12v enjoys a substantial edge in reliability with a few cheap if not free methods of gaining more power while the 24v offers not only plug 'n play ease of gaining more power but the convenience of easy adjustability of that power as well.
The killer dowel pin issue primarilly afflicts the 12 valves but has also occured in 24 valve engines. For as inexpensive and easy as it is to prevent by doing the work yourself, one would be foolish not to eliminate the possibility on either engine.
Various transmission issues are just that and have nothing to do with whether the transmission is behind a 12v or 24v engine.
Same with steering issues, they are the same for the entire 2nd Gen line of trucks regardless of engine type.
Other minor differences would be the introduction of the 47RE electronically controlled automatic transmission in the 1996 model year, the upgrade from vacuum assisted brakes to a HydroBoost system for the 1997 model year, the redesigned interior and availability of the Quad Cab and shortbed in the 1998 model year, availability of the NV5600 6 speed in 1999, and rear disk brakes for the 2001.5 model year.
Personally, the crappy stock electric lift pump and particularly the VP44 were deal breakers for me. I decided early on that it was going to be a 2nd Gen 12v or a 2003+ 3rd Gen common rail. After a long look at both, I came across a deal for a 1997 2500 CTD 5 speed 4x4 CC that I couldn't pass up.
I don't know where someone up above came up with the notion that the 12v's P7100 injection pump needs a going through at 200,000 miles. They commonly go for FAR longer than that. Perhaps he has confused it with the VP44, except that they are notorious for failing well before that mark.
Lastly, there should not be such a huge emphasis placed on power for towing or equating towing ability with power output. People who focus only on that single aspect are a bit shortsighted and perhaps even foolish. The ability to control a load and stop it are far more important than the ability to get it started or race up the pass at 80mph. While I plan to turn up my 12v just a bit, it's stock 215hp gets me over the passes at legal speed limits just fine. If I had to choose between the two, I would rather have an exhaust brake than go fast goodies. A lot of guys also turn their trucks up so far the enine becomes tempermental and they start having reliabilty and longevity issues as well as shredding the drivetrain.
Good luck in your research and search. I'm sure that whatever you eventually opt for, you will agree that it is far better than any gasser. :awesomework: