I'd say it's a good deal, but I'm certainly not the expert.
What about the rest of the running gear (steering, brakes, electrical, suspension)?
If it's all in decent shape and the only thing the truck needs is some bodywork, then it sounds like a fine project base to me, the non-expert.

Tilt your head back, cuz Mama Bird is going to ram a juicy nightcrawler of truth down your throat!