First, GREAT photo work. This rod runs from that pin back to the bell crank that runs across the frame rails behind the cab and it is nothing special so cut the sucker. After the assembly is out use a socket (or pipe if your picky about your tools) that will just fit over the head of the pin, set socket on solid surface, and the use TWO hammers to drive the pin out. First hammer (ball peen) is held flat side on the pin and second hammer strikes first one---no mush rooming of pin end this way. Weld rod back together or make a new one. With a rod under tension, like this one, the weld doesn't have to be super; not so with one under compression. Here is a view of the rod from the other end and it is nothing special. This one has been cut and threaded for an S10 cable equalizer but the front portion is factory just like yours. Texas truck is slightly less rusty than yours.
[img]https://s15.postimg.cc/bkdn60zkn/S10_049.jpg[/img]