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I hate to even admit this, but I remeber seeing a picture in the local paper about 20 years ago of a 1980 F150 that had split like that. Guy that owned it had a load of lumber in it, left it sit overnight and came out in the morning to the truck looking much like that. But then Ford back then had the brilliant idea of making the frames lighter by putting some holes in the frame. IIRC, that only lasted for a year maybe 2, then they went back to regular frames.
Where I used to work we have a 2500 Chevy exactly like that that is used for plowing and as a shop truck. I installed the salt spreader on it and ran the wiring from the engine compartment to the spreaderalong the frame rail. Those trucks have a half decent frame under the cab but it tapers down quite a bit towards the bed and back of the truck. When I removed the frame hitch I laughed at how small the frame was.(compared to my F-100) The truck seems to be holding up OK but it has to be the worst quality, fit/finish and clunkiest truck in a truck I've seen and driven.