Thanks for the replies so far. Took a few pics of the truck last weekend and posted them on picturetrail:
http://www.picturetrail.com/gallery/...30308&offset=0
The truck is pretty much complete except for the driver side hood hinge and the driver's door window is missing. Also has some kind of tommy-lift hydraulic set up out back.
The engine and trans are still there but the probably needs a rebuild. But since I haven't heard it run and I'm just going by what the owner says maybe it just needs rings.
My initial thought was a 360\390 swap. What's the top speed on this size truck? It would be nice if it could do about 65mph.