My 2c, fwiw, is that truck is unsafe at any speed. $1000 would be generous. There's way too much work that needs to be redone properly to justify any kind of real value. Unless you really want a project like that, and can get it cheap enough where you feel good about the deal, I'd move on to greener pastures. When the stuff you can see looks that bad, you may not want to know what the hidden stuff looks like.

If you don't mind a short drive, this could be yours...

http://kpr.craigslist.org/cto/3079311635.html

or this...

http://kpr.craigslist.org/pts/3004077294.html