Mr. Z-A friend's father used to have a '40 F**d DeLuxe coupe hotrod...it went through this exact situation while in the possession of the PO and builder. The car was in a garage which burned to the ground-the ironies are twofold; first the car was traditional black-with-flames, second, it's owner at that time
was a fireman! 
Now that's just gotta
SUCK! 
The moral of the story? That car was rebuilt good as new-you'd never tell by looking at it now what had happenned. Anything's possible, if your friends truly desire to save that old truck, just tell 'em to break out the checkbook. The comments about warpage/surface rust posted above are the absolute truth. Take a look at a gutted fire victim on your next trip to the boneyard-'nuff said.
Regards,
Wannabe
