The frame number is a different format from others I have collected, but then I have not collect many that late into the 90s.
It was only second up from the bottom of the GT steel range that year. It would be perfectly good for getting around on and the Alivio components will all work fine if they are tweaked to make sure they are correctly set up. It won't be very light.
It will ride better than a cheap new bike, but if you are looking for something nicer, then hold out for one a bit higher in the range, or a similar level bike from another brand.