It has a '54 to '62 motor in it, which takes away restoration points, but is a better motor if you want to drive the truck much.
Its hard to price a truck through pictures but I would hesitate to pay much for a 3/4-ton or 1-ton because they aren't as desirable and you should be able to pick one up for not a lot of money relative to what a 1/2-ton in the same condition will get.