This swap will work, but you will need motor mounts and a trasmission mount. As far as the drive shaft is concerned, you will have to put the rear end and transmission in place and measure to see if it will work. You can even bolt your front suspension off of the 77 truck on to the frame of your 49 to upgrade to independent front suspension and disc brakes. I plan on doing this myself. Hopefully others will drop in and give us the ins and outs of doing this.
Phil