When is it too much rust?

[db65]

Hello everyone I'm new to the site (posting that is) I've been lurking around the past 3-4 months. I just got this 65 GMC lwb truck for free but it's got a lot of rust. It's been sitting since about 85 with the bed full of junk so there wasn't anything left of the bed. I guess it was my barn find minus the barn. lol When is it too much in your opinion. My plans are for drop members (Porterbuilt) smallblock w/700r4, disc brakes, 5 lug wheels shop truck type look in suede paint. Even though I don't have anything invested in this truck should I look for a better starting point. I know this is going to need a different bed, at least 1 door maybe a fender and hood. I see I can get patch panels for most of the truck but not sure if that will work for this truck yet. I just got it home last night so I haven't got to tear into it yet. The frame seems solid but the hulk hauler guy who brought it home thinks the frame is toast?? I think he just wanted another car for the scraper. Anyway your thoughts or opinions are appreciated.

When I found it

At my house now

The bed, whats left of it anyway

front part of the bed

drs side floor board

bottom part of inside of pas door

right front corner of the hood

pas door

pass door sill

complete dash