Ok just got a 95 f250 2 door extended cab long bed 4x4 with a 460 and 180,000miles on it. From what I can see it's fully Factory air filter was dirty factory exhaust and all. Looking to do some work with it maybe play in some mud wondering what the first step I should take in slightly building this thing up. Going to go through the U-joints and suspension mostly just wondering about motor since the biggest motor I've owned was a V6 F150 and the biggest thing it hauled was my motorcycle

 

The biggest hold back on these engines are the heads. You'll need to change them out for aftermarket ones to make serious hp. Otherwise you can still gain some power with the usual cam swap. There are a bunch of buildup recipes at 460ford.com :

460 Horsepower Chart (revised 1/24/09) - 460 Ford Forum

 

Start with the simple stuff. Anything that needs fixed to make it reliable. Nothing I hate more than being stranded for something stupid I didn't fix.
A compression test to make sure she's healthy. Then a good tune up, bump the base timing to 12 deg BTDC. The 460 is a simple old school engine thats tough to beat for brute force on a budget if you don't mind feeding it.
Mine is unmodified, tows my 4000-6000lb trailer with ease, plows snow and does 0-60 in 8 seconds. I'm happy!!