The 3.8 in your Olds was probably the Buick V-6 which was a very good motor. However, they quit making them in '88 or '89 or thereabouts. There was a supercharged version that made a lot of power.
The only guy I've talked to with a V-6 in an old truck said he was sorry he hadn't gone V-8 instead. He had a 4.3 in his.
I don't think that means its a bad idea, but you really need to have thought through what you want the truck to do before you choose a motor.
If you are going to do all that work for a swap make sure you are putting in a motor you will be satisfied with! I keep ending up with a big block as the only answer for me...