I'll second (or third) the suspensions being a pain in the rump to find. I'm at a point now where I'm going to swap the rear out from tire to tire and put a 4 bar in instead of the leaf springs.
I am going to be trying to make this into a daily driver, so lower gearing is a must for me. As far as value goes, I paid $2500 for it and I think I stole it for that price. The guy I bought it from redid from the cab forward on the outside and rebuilt the original 216. He said that he paid $2500 for it to the original owner just to get it out of the field it was in.
All in all, I'm looking at putting another $5000 at least into it to get it to my daily driver. And that's before I start swapping out the front end for a Mustang 2. If I were to put a total of $10k into it, and was asked to sell it for that price, I don't think I would. But that's because I've already turned down offers for it for double my money already. Even if I was offered the $135k that was discussed in the 'Spoon section, I think I'd turn it down.
