Advice on Minimal Restore

[ERBSIX]

I started a build thread for the 1/2 ton 1978 Silverado I want to do a total frame off restoration on, and I mentioned in that thread that I have another 1978 Silverado, but 3/4 ton, for a parts truck.







The original plan was going to be to use this truck for parts and practice.

I am going to photograph and video the tear down to make FAQ articles on this site.

BUT, the more I've looked at, and thought about, this truck, the more I want to fix it up, build a wooden flat bed for it, and make it into a good work truck which I won't have to worry as much about.

The problem I'm facing, and the one I need advice on, is if I do totally tear this truck down to the frame, how do I do a MINIMAL restore on it?

I can't sink a ton of money into this one, as I need the money to fully restore my other Silverado.

My thoughts on a budget build:

1) Tear apart the 350, clean it up, check for any damages, replace minimal parts like piston rings, bearings, etc... Make sure the four speed, granny low, trans is well lubed and got good oil in it.

2) Replace bushings and shocks

3) Sand blast and Rattle can epoxy (POR15 or Eastwood?) everything on the frame and suspension

4) Practice on the cab, fenders, wheel wells, and hood for welding, sanding and painting

5) Rustoleum (cheap) paint the truck

6) Practice the dash pad repair then replace

7) Build a custom, low-profile, wooden flat-bed

8) Use it when my other truck is down for repair, and run parts in it. Then when the other truck is fully restored, use it for helping people move and pulling trailers to keep my restored one pretty and perfect...

Wow, long thread, sorry.

Advice on doing this the cheapest possible?
What do I not need to do?
What do I need to do?

Ultimately, I'm going to use this truck to tear down to frame only first, so I know what I'm doing before doing it to my really nice truck. And then practice grinding and welding on this one...