First Drive, First Problem...
 

Finally got my '75 registered and insured after 2 months. I took it for a drive down the road to get gas, and no sooner do i shut the truck off do i see steam gently billowing from under the hood. The radiator cap (now presumed to be faulty) was letting coolant mix out, hitting the radiator, and steaming. threw some gas in the tank and got it home without any significant trouble. I'm gonna get a new cap tomorrow.

How about the thermostat. I would look into that as well.

i say it was the radiator cap because it was loose... it wouldn't stay tight. yes i put it on the right way but it just wouldnt stay tight. Would a faulty thermostat not open and cause pressure to the point where it slowly comes out of the radiator cap?

I have a '74 F-350 thats been sitting for a couple of years that I am getting ready to cut up and sell the parts. It still runs, has a flat bed dump, and a bunch of other good parts. Since I don't really have the time and way to many projects going already I would much rather sell it in one piece. I'm in the Danbury area if this interests you at all.

There's a pic in one of my galleries.

Update
 

I bought a new radiator cap and, after driving it around, it did the same thing. I'm gonna get a new thermostat and give that a try.

that truck reminds me a lot of my truck, except yours has more red and less primer and rust

Follow up
 

totally forgot to update the situation. The thermostat replacement worked, I no longer had coolant coming out of the radiator cap. HOWEVER, Just last week my radiator decided that it, too, wants to be replaced. I'll update you guys about that when i get to it.
I also stripped out the interior last week. In the next few weeks I hope to repair some of the rust and holes. you can check my profile for updates. Hope everything is going well with everyone else.

Vinny