I think what you get with the alloy frames is a more rigid platform, whether thats good or bad is in the eyes of the beholder. Also a better suspension package, and of course I will get the, I sent mine off and it works awesome, and you could send the newer off and it would probably work even better. Having said all this, if your just going to trail ride your bike it doesn't really matter. I have done a couple of 99-02 framed conversions, and I had no issues, felt they were better than the stock framed 500, the last one I had I built in 04, and I was able to take a set of 04 250f forks and transplant them to the 02 chassis as well as a shock, I think I had to change the clevis to the shock though can't remember exactly. My current favorit 500 resides in a 05 kx250f steel frame, it is narrow, and handles really well. the only issue with the 99-02 chassis is the head stay, you will have to remove it cause it hits the tank, and even then you will have to warm the tank up and form it away from the head to give clearance and then build a head stay on the front of the head, you can look at JFAB's for sale on this site, he has a head stay for that conversion.