Howdy Stove
This could be a can of worms, The photo shows a flathead eh.
My guess is this Pontiac is a US car. What series or model is on the outside. Canadian Pontiac production cars were as you know just disguised Chevys. One big advantage for us Canucks is the Canadian ponchos had a larger engine. The 51 would have a 216 like a Chev but when the 235 came out for larger trucks and Corvette use the Canadian Pontiac had that engine. By 55 they had 261 as the standard engine.(great source for that engine is a Canadian car)
To answer your 3rd question if the rust worm has not damaged it much it could be a fun car to have. There are three Pontiac sedan deliverys in the Calgary area. The guys that own them are very happy to have them. If it is actually a US version it is very rare up here.
Have fun, your GMC needs a stablemate. Howie