What you expect from the finished project?
Some guys completely disassemble everything, take it down to bare metal and end up with a factory fresh part, others (like me) do their best to clean all the crud off, repair what needs it and repaint, others just fix what's broken and drive it. Each is the "correct" way because each owner has their own goals.
Decide what you want your truck to be when you're finished and then act accordingly.
Personally, I use the Eastwood Rust Converter and Encapsulator and find each to be very user friendly. The Encapsulator is lacquer based, clean up is simple and what you don't use you can store for next time.
I prefer Rustolium Satin Black over chassis black. It's easy to find, inexpensive and looks great, and it's inexpensive. Did I say it's inexpensive?
My best advice to someone starting out is:
1. Take a TON of photos of each thing you do so that later you'll have a better idea of how it goes back together.
2. Stay organized. Complete each part and store it in an organized fashion so that when it comes time to reassemble you'll be able to find things and it will be like assembling a kit.
3. Enjoy the journey. Do no impose a deadline on yourself, just do what needs to be done and when you're finished, you're finished. Remember that a big project is just a series of small projects strung together.
4. Ask questions but do your research first. Learn how to search for things here before asking, but do ask! People here are willing to help but do your part first.