Hi Stevie, welcome to the 'bolt.
As Highflyer said, it depends on what you want out of the truck. Do you want a truck to use as a truck, do you want a daily driver, do you want a weekend cruiser, do you want a drive-once-a-year show truck. After deciding what you want out of the truck it'll help you decide how to attack the project.
If the engine is out, its easier to work on the truck and engine like that. If it is in, first thing you want to do is see if she'll run. It'll help keep your motivation if you can drive the truck (even just around the block).
Just to correct Highflyer, Stevie's '62 has torsion bar IFS. He can lower it with that stock suspension but parts are somewhat expensive and harded to come by. I am not sure about factory power steering on 60-62's.
Good luck!
