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Theres a bunch of different scenarios. Have you opened the engine up yet? Is the pickup plugged or clogged. Do you do primarily city driving? Does the engine rarely get up to temp? If so, water buildup could have caused failure. The drive could have worn out or broke. Thats all I can think of off the top of my head. Hope I helped.
Deerhunter06 is a friend of mine and i actually told him to post here but he wasent very clear. This is his first car and basically was wondering why at only 132k did the oil pump fail? Ive heard stories of the 302 going 300k without any internal or major work needed. When he got the truck it ran great and he changed the oil and it was fine but about 2 k later hes going down the hwy when the motor started knocking prety badly. Of course theres probably not a real answer for this as he bought the truck used wit about 129k an no one really knows the history. It just seems odd that it was runing so good initially an then just quite. Anyway he has since then gotten a new rebuilt 302 in there, hopfully this one holds up.