Can't Decide

[elks]

Well I am just now getting ready to clear my last 2 "projects" from the shop. This is allowing me to make room for grandpas 72 long bed 2wd. It is in some bad shape rust wise. It currently has a blown engine. I am trying to decide:

1. Get a motor and just get it on the street in 2 months: cost minimal

2. Build a 383 stroker and get it on the street in about 6 months: Pretty good chunk of change

3. Take it down to a a bare frame and slowly rebuild it: Cost- high enough to fear my wife, Time: Long enough my 3 yr old daughter could graduate high school.

I am really leaning towards getting it on the road and fixing little things over a long time and eventually make it sweat.

What is your vote? Here a few pics:

Also what can I do about this rust? I can not afford to fix it right now, but want to stop its spread. Should I just chop out the fatigued and coat with POR15?
The only real rust is drivers side rocker and around the storage bos in teh bed.