PJ -- I've been where you are. It's good you're doing the "Stop. Think. Act." routine, too. The advice above is good, but only you can decide for sure. Lots of guys have gotten into trucks that were far worse than they originally appeared. I bought a '51 3/4-ton off eBay a few years ago that looked (and was presented as being) pretty good "Ran when it was parked." Well that thing was pure junk. About all we save off it was the engine, transmission and the glass. The rest of it was beyond messing with.
If you have a good chassis and cab, that's a start! Start with those and and just work back up. The other parts will come in time (with patience and diligence). You're doing the right thing by doing a gut check. And if that's the kind of restoration you want to do now, then settle in for the long haul and take it one step at a time. That's what I'm doing on my '49 Big Bolt and its working (We're on year 6 and I have a rolling chassis with brakes and steering).
Just my opinion for the group, but looking at these trucks as an "investment" is probably not the best way to look at them. At least in the short term. You have to love the old iron and enjoy spending the money and doing the work, otherwise this hobby can get pretty darn aggravating.
V/R
John
