What size 49 truck?
By "pulling truck" do you mean sled pulling at the county fair? Or a trailer on the road?
If it's a 1 ton or larger I say leave the frame it has under it and add 4wheel drive.
The bigger problem with a new or old frame may be finding a strong enough driven front axle that is narrow enough to fit without trimming the fenders or an extreme lift.
Grigg