The hydrovac would have been an option. As long as the bed and/or load is not too heavy it should be OK. If you reline or replace the brake shoes, be sure to have a brake shop "arc" the shoes to each individual drum. If you don't the brakes will not work well until the shoes have worn to the drum and you have full contact.
1950 was the last year of the Huck brake system. With the single master cylinder and periodic requirement to adjust the shoes, many people, especially daily drivers, don't care for them. Three of my trucks have this type brake and they function just fine for recreational driving and light loads. Also, remember the steel lines rust from the inside out, so ideally you should think about replacing those.
Kent
