I am currently organising myself for a nuts and bolts type restoration for my newly aquired 1950 mercury M47. But before I proceed, I'd like to know if there are any differences in the mechanical aspects of the merc compared to the Ford, or is it really just trim. I will post pics as soon as I can!!

 

I'm sure a few others will pipe up quickly, but what I've learned is that some of the front end sheet metal is ever so slightly different. The big difference is the Canadian engines that have a third oil port at the back of the block alowing nearly full flow oil filtration.
Looking forward to the pics, and welcome from a fellow Canuck.

 

Congratulations on your new truck. Mechanically speaking, there is no difference between the Ford and Mercury trucks. Essentially, the difference is in trim and badging. The earlier trucks had more unique body and trim parts than their later counterparts, but in the big picture, that's all it is.

 

Wayne is right. Mechanically they are the same which is great for getting the parts you may need. There is some differences in the sheet metal. The main difference is with the front fenders with the modification for the mounting of the front marker lights.
The hood has a few changes too for the installation of the Mercury trim pieces. Ask away if you have any questions as there are a few Mercury guys on here.
And welcome from a 1949 M-47 owner.
Greg M-47

 

As the other guy's have said it's the same truck with different badge and tri details . Trim parts can be very challenging to locate if anything is missing .
Welcome and post some pictures .