Texas;
That sounds like the way to go,IMHO. That way,you don't lose the "Cool old truck" looks.
Be sure to take lotsa pics,document the hell outta the build.

There's several of us who would be going the home-built rollback deal if we could,and I,for one,plan to try to do one in a couple of years,once I get my home/shop built and get a few more vehicle projects done and out of the way.
Are you thinking of using an already made flatbed and making it into a rollback? That's how I'd considered doing it,since I'd already have a flatbed to work with.
Speed