Smittster,
You have received great advice from everyone; thanks to the Bolt! There is no substitute for the experience and insight that these guys have.
As a new guy, I stumbled into restoring my buddy Baxter, a 1953 five window middle tire stepside shortbed half ton. Not much of which I knew about when I bought it from a guy in Oklahoma. I knew since I was a little kid that I wanted a 53 Chevy truck, and here it was. I wanted the five windows and the middle tire, though. Great buy on E-bay.
Advice I have is 1) expect to spend more money after you buy it on the entire restoration project, 2) SHOP repalcement parts from all the popular vendors and KEEP A RECORD OF WHO YOU BUY FROM. Plan to send some parts back because they do not even pretend to fit, and plan to refurbish several parts you already have that you cannot find from any of the usual suspects. Don't throw anything away until you have a replacement that works. Take lots of pictures before you dismantle.
E-bay can be good for some parts, but READ the descriptions carefully. There are some very good buys there, so use it to your advantage. We learned a few lessons early about things like fiberglass fenders and hoods; we wound up sending all fiberglass stuff back as it was junk that would not reflect show quality.
You have a choice: change the old for the new and comfortable, or change the totally worn out for the NOS, new, or rebuilt to keep the strength of the original. We have decided on the second choice and are not disappointed. It will be only two or three weeks before we affix the rear fenders and roll out to state inspection and front end alignment. For example, nobody had the "dimpled" fender. so we blasted the old one, and we will finally finish the whole shebang by adding the radio that we have had so much difficulty replicating reliably. Spent a bundle on an "antique radio" only to be dissapointed as of now. (That will take a whole 'nother post.)
Above all, expect Murphy's law number 302:
Everything takes longer than it takes! You will spend more than you will recover if you sell it (as of 2007), but these trucks are getting more rare every day. Check the sales to see what I mean.
Go at it carefully, be patient, and expect great results. Also, plan to come back to the bolt for questions; there is somebody out there with an answer for everything you will ask!