Just my $0.02....
but it makes sense...if you had the time AND you could find a scrap truck with ALL the parts in good condition...AND had the available down-time on the truck...AND you were fairly mechanically inclined....You could do it in the winter. Been thinkin bout takin on the same project myself with my '03 F350. Bought when I lived in Cali....who needs a 4x4 in Cali??? Well up and moved to Michigan....snow really sucks...with weight and cnow tires....still have issues gettin in and out the house with all the steep hills around.
If I decide to take it on...I will be sure to post pics and progress updates..