M101A3 vs pick-up bed trailer?

I am wanting to start on a off-road/utility trailer. I currently have a pickup be trailer mad out of a 80's 1/2 ton dodge long bed truck. It has a crap load of tool boxes on it (I already removed a few), and is set up for a regular ball receiver. The major problems with it are that the shocks are shot, it only has 1/2 ton springs under it, the tailgate does not open (I have to use a screwdriver on a latch on one side to open it), and I would need/want to change to a pintle hook set up. My other option is to buy a m101A1/m101A2 from Gov. Liquidation. They have a whole bunch for auction starting tomorrow, and if I can get one cheap I may go that direction. I would plan to swap out the axle and add one with electric trailer brakes (if it's not the same bolt pattern as my Suburban). I'm looking for pros and cons on each? It will mostly be towed behind my 3/4 ton Suburban, and once in a while my wife's Chevy Trailblazer.
 

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