There are a lot of early 50's Chev and GMC farm trucks being sold in the Midwest for little more than scrap iron price. I would not hesitate using good used bearings. As long as they have oil and no water, they last almost forever. I recently bought this one in Kansas for $1,000.

https://picasaweb.google.com/108197...vEQ&noredirect=1#6002347299271685330

The cab would look good on a pickup and it has a good running 270.