There is a common problem on the late 90?s H6 compressors used in most GM trucks. The reed valve tends to be brittle and break apart inside the compressor. These small pieces get caught in the pistons and create a drag on the compressor shaft. This is noticeable by a clicking or loud humming from the compressor while the clutch is engaged. Usually this does affect the cooling of the vehicle until the clutch disc overheats and breaks apart, hence no more A/C.
The best way to fix this problem is to replace the A/C Compressor & Clutch assembly, Accumulator, Orifice tube, and flush the condensor to remove any remaining debris.
$320.00 - A/C Compressor & Clutch
$85.00 ? Accumulator
$6.00 ? Orifice Tube
$160.00 _ Labor to Flush System, Replace Parts, & Recharge System
$24.00 ? Refrigerant & Oil w/ Dye
$595.00 ? Total plus tax.
So you can see why it would cost $600.00 to repair your problem.
Good Luck,
Quixfire