Re: My "New" Truck
Welcome! I say clean it up and drive the heck out of it. I love my long bed and would work on a/c and power steering before cutting on the bed. Just flip your list upside down  Others will chime in but rear wheel disc shouldn't be so important. Getting a newer suspension on the 40+ year old truck will certainly help.
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Life is too long to go slow... 
71 GMC 1500 Super Custom LWB
350/350 AC(replaced w/vintage air)/PS/PB
2.5 CPP Spindle, 1" CPP Drop Spring, CPP Front and Rear Sway Bars/DJM Flip, new General Spring KC 5 spring pack, HEI /IntReg Alt
20x8.5 OldSkools 5" BS, 275/45 Falkens
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