Wow, thanks for all the replies guys!
To answer some questions, I am doing a slight re-vamp of my truck. The existing 350/SM465/Rockwell T221 all pretty much died (350 seized, 465 needs a new output shaft, Rockwell swallowed a bearing).
I am getting a free divorced NP202 from an IH with a PTO and 1410 yokes.
If I can work out the deal on this truck, it will go in front of the 202.
As far as the 292 goes, my dad has a Ford F150 with the 300 inline six, and I love that thing. So, I'd like to go to a six...and it helps that I know where I can get a '69 C/30 for free with a 292/465. I never really cared for my 350...stock, but it was a pig and got horrible mileage. I'd like to try the 292.
Thanks again for all the help. Hopefully I will go see this truck again this weekend. The only thing that may prevent me from getting it is money. Being a college student sucks. Even $300 (+ temp tags, registration, GAS) will be a big hit to my wallet.
Again, thanks! This place rocks.