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I added a Viper setup to my late 86 and both systems would work. I did it mainly for the remote entry piece. Just have to remember not to lock the doors with the lock switch, then use the remote or when you come back you have to unlock the door with the key, then disarm the secondary system. No problems otherwise.
From: San Diego , CA Double Yellow DirtBags 1985..Z51..6-speed
Re: Security system late model 1986 (wirenut3)
Are you looking to install keyless entry also?
I did a custom job on my '85, even wired it so I can turn my stereo on and off from my keyless entry remote! I used the GM VKE-1000 system, (it's just a keyless entry, NOT an alarm) and I tied it in with the factory alarm. Now I have a little remote that looks factory. You could use basically any keyless entry system, the GM one costs ~$110 from the dealership.