65' K-10 what are your thoughts?

[60724x4]

Okay, First time posting here and I would just like to say hey! I would also like some people to bounce ideas off of. College student so i am on an ultra tight budget but i have to have something to tinker with.
Just picked up this 65 k-10 longbed from a friend, but I am not sure what to do with it. It has a flatbed currently and that will change. It has your typical dents in the door from broken stops and a few other minor dings, but i have dealt with worse. Other than the flabbed the truck is origional, the 292 six sat in the cold without antifreeze it ran, enough to get it on the trailer, and that ford radiator stickin out of there rather annoying.
Trying to decide what i want to do with it though, in the trade we made, i also aquired a 327 out of a 67 camero, double hump heads, forged crank and rods, HEI and some other goodies. I have tossed around throwing that engine in there because, well that would be cool, yet the old school side of me thought about getting another 292. I would like to keep enough stuff on it to keep it a real K-10. Would like to find a stepside bed cheap because i think they 4x4s look nice with a step bed.
I am pretty sure that i dont want to get rid of the closed knuckle front end, just throw some outboard motor grease in the balls and call it good. Have a later model drum drum, master with booster that i probably will throw on. And power steering would be nice, but not sure about that conversion on the 4x4. I am sort of used to not having PS growing up driving a 55' B 3600, that was my first truck wow, thats been 7 years ago already, but the whole no power brakes/steering thing doesnt bother me a whole lot. 5:17s in the rear, oh yea, 45 mph is about what she had, did manage to get a "exibition of speed" ticket in it. But the next truck i bought has me spoilt 71 K-10 and they are basically built from the factory the way that I would. Not having a serious girlfriend and working all the time i wasnt in school paied off i could afford this back then, but not now. I sold off my blue baby 2 years ago when I started going to school.
Anyway, back to the point of this thread, would you just say screw it and throw new axles and everything under it or would you try to leave as much of it alone as you could? I plan on repainting the truck and ill probably stick with orange, ought to look sweet with a stepside. but that is a longgg way down the road.
sorry for the long thread for a simple question
Thanks for your input
Ken