That Mustang tag... is that referring to the engine? If so, STRONG 6 cylinder, 504 CI maybe, (appropriate for a White) but you'll have to sell a kidney to pay for parts. However, I bet you got enough room under that hood for whatever you can find to throw in it.
I like these old semi's (and the old Mack B's). Don't do the 1 ton butcher job. If you need more road speed, get a lower ratio axle or gear.
Would make an interesting RV all fixed up. Watch your clearance!