I just did the rear lower section and the front headlamp section on one of my fenders. From what I can see, the 1/2 fender would be a lot more work because of the inner braces that are welded on at the top, but it's a heck of a lot cheaper than a new fender. You can check my photobucket pictures for what I did. If it were my choice, I would go for the 1/2 fender patch before buying a new one. Just remember, with all these repair panels you will have to make some "adjustments" to make them work.

1957 Chevrolet 1/2-ton Stepside LB in the Gallery
My Photobucket shots

The person who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by the exertions of better men than himself." - John Stuart Mill (1806 - 1873)