Your buddy is only partially correct.
You can easily 'lightly' modify the truck with no ill effects on its value....but to great advantage to your tastes.
The biggest things I see on it are as follows:
-The a/c system....get that figured out an re-installed back on the truck...that will add value and comfort- good investment.
-The engine detailing...I would put original valve covers on it and simply paint the intake chevy orange but leave it on....better performance.
-I would find a nice black '68-72 Dual Snorkel GM air cleaner to replace the chrome one....
....but hey, all of that is just me....not you.
Just keep all the original parts for the truck and you will still be in good shape.
All good
Coley