Don't even try the newer frame route, it's way to much work for the little you gain. You can swap in a drivetrain and still keep the frame. brakes are the same. add disk and bigger rear drums to what you have. Trucks with frame swaps always look funny, the track width and wheelbase never line up just right.

Do a brake update if you want, but just know that when properly set up, the originals do a darn good job of stopping. The one area you will want to change is gear ratio, as it is now, 45 to 50 mph is about tops.

Make due with the parts you have, fixing what needs fixed and rebuilding what needs rebuilt, it's the cheapest way to go. I painted my bumpers to save money, and powder coated anything that needed chromed with a $100 kit and old kitchen stove. Things like this can save a boat load of cash and can be swapped out anytime for better parts if you want. Change very little from what Chevrolet built, get it road worthy and get some drive time before planning any major work. I painted mine before driving it, I should have waited as there are somethings I wish I had done different. Its to late now, as I don't want to hassle with paint again.

Joe