If you like the truck, buy it.
Being a native floridian, i'm all too aware of what the gulf can do, and what can happen to vehicles that happen to live right on the coast during a flood.
Up above the mason-dixon, it's the road salt that rots 'em out.
I've always wanted to get into the old trucks, but like you said, back East they aren't cheap.. out here in Nebraska, they just about pay YOU to take them out of their lawn.
If you like the truck, you can't build it for the asking price, and the price is right buy it, man.
I subscribe to the theory that if you have to think about it very long, you probably don't really want it or can't justify the expence.