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well... the camper special means its got 1 ton rear suspension... the 351m is actually a pretty decent reliable motor... just got smogged to death so its a bit underpowered- even worse being a 1979- they got catalyetic converters on them... but otherwise it would be a pretty decent truck assuming its in decent shape. if you wanted to swap a 460 into it you could do that too... it just wouldnt meet emissions... but it would bolt up to the tranny... anything else you want to know- ask more specific questions
Tuff questions as we are talking about a truck that is almost 30 years old. Cab mounts, roof and dash board (window leaks). If any of these are rusty, it is most likely a turd. The 351M is a decent motor. You need to advance the cam timing to get any power out of it as it was factory rated at like 140HP. You can also swap the crank and builtup a nice 400 motor with 9:1 compression and work those Cleveland heads a little. My 2 cents.
Other typical rust areas--
1. Top corner of the windshield where the A pillar meets the cab roof (see my gallery for an example)
2. Rust-through over the rear wheel wells--there is a cavity between the inner wheel well and the bedside that will hold mud and water and is prone to rusting out. (also see my gallery)
3. Another place that holds mud and water is the lower rear bed corner, just ahead of the rear bumper. Both sides of mine had experienced some rust-through (no pics of that, tho) and one side had been repaired with bondo. That one has new metal welded into it now.