I am not the type that would garage a classic vehicle. I think these great trucks should be driven and enjoyed. I'm more the type in your second paragraph. This truck will be driven alot and enjoyed. It will also be a learning platform for me and my sons.
I have seen trucks in worse shape go for $800 around here, so that is my target price.
I am also thinking of getting a fleetside bed for it, so the right rear fender will be one of my "practice" pieces.
It seems that by reading between the lines of everyone's posts, the bottom line is, if the cab is relatively rust free, than go for it!?