If bolting on the 54 cab to a 51 frame, there shouldn't be any issue there. However, the 54 box on that frame will be a pain because the 54 back end of the frame is lower to create a deeper bed. It can be done but it will cause you major irritation.
Are you getting his cab in this deal too, or supplying your own?
I would also make VERY sure that your friend is competent in his abilities. If the work is not "up to snuff" you may be in for a great deal more work, time and money. Some things to consider for example:
Engine to firewall clearance?
Radiator clearance?
Power steering hookup- rack vs box- does it clear headers? Inner fenders?
Engine/Trans combo angles? Centered?
Good welds, or are "popcorn fart" weld beads layed down?
Pinion angle set correctly on rear end?
Floor to trans clearance?
To name a few...
Now, in my personal opinion on pricing he probably has a lot of money sunk into this old girl. I would be uncomfortable making this kind of deal even with a friend. "Deals" can come back to bite you in the behind. That being said though, you may in fact be on a great path to finishing and you two can sip a couple brews together as it progresses. On the other hand, if you haven't been thorough in your pre sale assessment a resentment could possibly grow. Think of it this way, he's fed up with it and willing to take a loss because it is VERY difficult to finish. Are you ready for this? I speak from experience as I did the exact same thing your pal did. It sounds all too familiar. Now I'm wrenching on a near stocker and am having much more fun but still it is ALOT of WORK and COMMITMENT!
Price: if most of this stuff is mid range- he probably has close to $6-7000 (or more) in my opinion. Used engine and Trans $1000, new ifs $2000, new rad $500, rear disc kit $500, master- $300, frame blasting and paint- $1000, coil overs 200-300. If he's a very close pal he should be willing to tell you what he has into it. I would for my pals.
Any other insights Bolters?
Please do all you homework before pulling the trigger on this one. The shining light of the shiny new truck on a restoration or resto-mod is a lot farther down that tunnel than you think.
This isn't beginner's territory.
Sorry if I sound like a very negative guy, I'm not because projects like this one are done all the time, but know what you're doing.
Do you really want all those non-stock items? If not, perhaps it might be better to go down your own path with your own priorities.
Ed
Thanks for your insight....and your right on several things. i.e. It's a ton of work and it's not as easy as it sounds. This guy has 8 old cars and is a gear head. The motor is a 5.3 Vortec with a 480LE tranny. Speedway motors IFS with power rack and pinion has been welded in with coilovers in the front and rear anlong with the Speedway 4 link. Tank is installed and fuel lines ran. Wiring harness is all plugged in. I'm going to try it out.
Do you really want all those non-stock items? If not, perhaps it might be better to go down your own path with your own priorities.
Ed
Thanks for your point also. My truck isn't stock already as is. Frame is C notched and dropped front axle. I might try and sell the frame and 261, Holley, Clifford, Fenton swap I have in there already as a unit.