I'm in Dundonald near Troon,not a million miles away.
It sounds ike you have a plan,it's easy to get carried away (and into debt)
Make a plan and stick to it.
Stock(ish) is fine,priorities like you say are getting it stopping and steering correctly,fortunately the 'ratty' look's in vogue at the moment,just as well too as mine looks a little rough round the edges,driving it all through the winter on our
lovely salted roads hasn't helped.
The guy that brought mine in from sunny California destroyed the original patina,but it wasn't
fashionable back then.
As you'll learn there are many things you can do to improve the driving experience,a front disc brake conversion in my opinion would be fairly high on the list,in saying that a properly set up and maintained original system is fine.
One thing I would definitely suggest would be a dual circuit master cylinder conversion,anyone who's experienced brake failure will agree!
Given the age of the truck an MOT is not required but I know many of my friends with pre 1960 vehicles still get one done as peace of mind,it doesn't hurt to get it checked out by a
supposedly impartial tester.

Keeping the stock drivetrain/rear end gear ratios won't get you anywhere quick but at least you'll look good getting there....
There are alternative ratios available for longer legs on the motorway too,although you would most likely need to convert the drive shaft to an open type.
Assuming the rear end is still stock on the '49,if it's a 3100 1/2 ton it will have a torque tube set-up,(i.e. a fully enclosed prop-shaft.
If it's the 3600 3/4ton model part of it is open.
The sky's the limit with these old trucks,there are so many options open to you,I hope you find your dream truck!
Like I said previously,anything I can do to help,just give me a shout.
Here's mine before mother nature got to work on the spray can paint job....
Satin black '50.