Didn't Ford have the I-beam in '65?
I had an air cleaner from who knows where, but I remeber the sticker on the thing stated the engine was 223ci and 129hp, so maybe that's the size that is?
From what you decribed the truck as I would offer $300-$500 and then maybe pay a bit more if the body was unbeleivably straight. Of course I don't live in the rust belt or anything so it may not be a good offer for your area.
Clayton