Grab it!
Even a trashed-out junker will have a lot of useable parts, and they're sure not making any more of them! I've got a 59 model 1-ton with a 235 that was running when I parked the truck 15 years ago, and I'm sure it hasn't improved any with age, but I'm also sure it could be salvaged if I ever decided to put it into running shape again. I know it's got cylinder head problems, possibly a crack, but it's still in one piece, and can be repaired with a little effort. One trick for long-term storage is to dismantle the engine, put the parts into a 55-gallon drum with a ring-seal top, and fill it with cheap oil. (or even Diesel fuel). They'll last 3 days past forever stored that way!
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!