Thank you all for your answers. The wood and strips in my panel can be salvaged but will need lots of work, nothing a good sander can't solve. The wood seems to be pine and in need sanding/stain/varnish, and the strips are rusted but can be saved. I thought maybe a kit was out there to replace it and save me all the work.
Yes, I will be cleaning up the undercarriage/frame once I remove the bed wood.
My bed wood is 97" long x 7-3/4" wide, and there are 7 boards across the floor. The rear wheel wells extend into each of the boards along the sides slightly. Not sure if the dimensions described is compatible to a long-bed pickup kit. Seems that kits are only available for truck beds through Mar-K, Jim Carters, and Chev's of the 40's, otherwise I'm looking at a custom replacement. Those places aren't certain it is a replacement. I don't want to order a truck bed kit unless I know it is the same as what I have.
I'm leaning toward restoring what I have. Seems to be less of a hassle. Anybody know what is correct for the stain/color for the wood and the metal strips so it will have a period look to it?