Ceder, at least the red ceder around here is rot resistant, that's a plus.
It is also reasonably soft, so if you truly don't plan to haul anything significant then it may be OK.
It's your truck, if you like the looks of it, and understand the compromise then go for it.
I may be to practical, but in my mind even a truck that may not be used heavily should still be ready for serious use as a truck if plans do change. I think a well done restoration of a purely functional and practical truck is more beautiful than a "cosmetic" restoration on a less than useful truck.
Grigg