The Colorado/Canyon are completely different from the old S truck. They're more of a scaled down '99-'07 Silverado. Not available in long bed, short, extended cab/short, and extended cab/really short bed only. The only engines are a 2.8 4 cylinder and a 3.5 5(???) cylinder. Both engines are grossly underpowered for the chassis weight.
I'd stick with the early S 10. BTW-check out the GM Performance site. It'll take a little searching, but you can still get the components to convert the S10 to the ZQ8 handling package (S10 Extreme). The kit gets you the springs, sway bars, quick ratio steering box, shocks, and 4 16" rims with either Chevy or GMC centers. You could sell the rims to get back some of the $$ spent on the kit.