If someone gave me a nice 292, I would take it.
I would then turn right around and sell it and use that money towards buying a small block V8.
There is a kit offered by CPP which makes dropping a 350 in these old trucks a breeze.
There is absolutely no wow factor looking at a 292 in the engine bay of a 1950 truck IMHO, and they are gas hogs.

1952 5-window - return to "as built" condition | 1950 3100 with a 235 and a T-5 transmission