My old 3.4 used to do a light ticking noise also.  I never could find a definitive solution...  But the truck ran great and never had an issue.  So I let it go.

On that year, just look for frame rust.  There is a recall out on the frames, because some of them rotted really bad.  It's hard to tell without really close inspection, but you could have a look at the steering rack too.  Particularly the bushings, and the condition they are in.  Check CV boots...  Oh and the rear leaf springs...they like to go inverted after awhile.  Then all the other indicators of a good running vehicle.  Excessive dirt that may indicate leaks, rust, modifications, etc.  With low mileage like that, I bet its good to go if they took decent care of it...even if they didn't.