Whew a lot of good advice. I know what Jim is saying about getting one someone gave up on but be careful. Lots of those projects have to be "re-done to be right".
Here is my two-cent. Since its a family heirloom perhaps you plan on keeping it and passing it down?? From the picture it appears to need some body work but otherwise pretty striaght and solid. If you plan to keep it then please, like building a house, get the foundation right to start with. Since its not running take the body off and clean and so the chassis/brakes/driveline and possibly engine. You can put the labor into it yourself using still wire brushes on the frame instead of sand blasting ect and come out with a nice job. Do all you can at this stage towards your disired end results and that may change as you go along and thats OK. Use swap meets and the swap meet here on the bolt for parts. I personally like the front straight axle and they can be fixed many ways. Even after a restoration putting power steering on a straight axle is not that hard and neither is disc brakes. Something you can do as projects later on as you drive the truck. In todays world a higher gear is MUCH desired. Lot of ways to go here to...depending on tranny and engine.
My 1937 pickup. Drug it home in 1994. It was in pretty bad shape but after five years and almost 20,000 I drove it for the first time in June 2000. V8, powersteering, malibu rearend, mustang II frontend from an original mustang. NO A/C...... now get this, my rearend was given to me, my brother built the engine for the cost of parts at his machine shop, my daughter/son in law gave me the tires and a friend built me a 350 tranny for a favor I did for him.(later switched to 700R4) Still, 20 grand invested (in 2000 dollars) and lots of time. I tried to keep it at least looking original. Do I enjoy it..oh,heii yes!!
1952 Panel....purchased Sept 2005. Began work on it summer 2006 and drove it first time Spring of this year 2012. V/8, power steering with straight axle, open drive line by putting in 56 pumpkin, 350 tranny. I've kept it at least "looking orignal. Its my "resto-rod" So far the cost is just under 19,000 with about 3500 more to go as I must have A/C in this thing. Here I found bargains and tons of help from bolters. (see photobucket below on the panel to see how bad it was)
I'm not saying all that to brag but sometimes folks are a little hesitant to speak moo-la here. Mine is just bare facts and I"m sure some guys have less and some a lot more than me.
***If the engine in your truck will run good then get it running and stopping and go from there making it many small projects. A lot will hinge on that alone.
Good luck, AND remember, Brad Allen is a bolter and has parted out many trucks and lives in SLC. Maybe meet up with him, look at his truck frist hand....and by all means take your time in deciding as you will be much happier.
We're all here to help and we need young guys like you to help keep this old hobby going strong....whew, I'm tired or typing.
Last edited by Achipmunk; 07/09/2012 9:32 PM.