If you are planning on doing a grade A, #1 restoration on the rest of the truck, you will be sorry that you didn't have the frame blasted and epoxy primered, and painted chassis black.
If its going to be just a real decent daily driver, I would just clean all of the grease and oil off of it, remove any loose rust, treat with Ospho, wipe it clean, prime with Rustoleum Rusty metal primer and paint with Rustoleum gloss black.
I like this option because it makes it very easy to do touch ups later.
Carl
