I gutted all of the old front suspension out of the truck and replaced it with the newer stuff all rebuilt and powdercoated. I also added a big sway bar to the front end too. These trucks never had one originally and they really help the cornering performance.
So now the truck has disc brakes and 5 lug wheels. It should last a long time with all new suspension and chassis parts.
I also got the old engine running. Bad news is that it's hurt down inside. Rather than delve into repairing the engine, I'm going to Dallas tomorrow to get a used runner from a buddy for 100 dollars. I want to try the used engine for awhile. It's a 230 cubic inch 6 cylinder, so gas mileage should be pretty good. At 2.50 a gallon nowadays, that looks pretty inviting.