I drove a 52 1 ton in high school as a daily driver and had very few problems, nothing major.
I recommend you upgrade to a dual circuit brake system probably with a booster, rebuild the brakes, and drive it.
Once you've driven it for a year or three you'll have a better idea of what you want to do next, and some understanding and ideas on what has been done and how you may do it.
My same 1 ton with a 55 model 235 and a 4 speed took me 8,000 miles or so around the country (in a month) with very little trouble.

I guess what I'm trying to say is make it safe, keep it pretty stock, and just drive it for a while before doing anything drastic.

Grigg

•1951 GMC 250 in the Project Journals
•1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
•1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-