Re: Truck transmission gone bad.
If the body of your truck is still good, rebuilding the transmission is the way to go. Although it has 150K miles, the 4.3 is a very good engine and will last if properly maintained.
Unfortunately, people don't understand automatic transmissions, and they don't properly maintain them--changing filters and fluids, etc. Heat is the biggest reason for failures in automatic transmissions. You would expect the oil and filter to be dirty in a truck with so many miles.
My recently departed son in law was a Master Mechanic, and he loved to rebuild 2 wheel drive Chevy truck transmissions. He could remove a 2wd Chevy transmission, tear it down, clean it, replace the bands, reassemble the transmission and reinstall it in about 75 minutes. He charged $1100 for the job--and seldom put more than $125 in parts into the job. Transmissions are often a license to steal for a repair shop. Shops are charging even more for repairing electronic transmissions, when they're actually less expensive to repair.
Good luck with your repairs.