For a first time thru i would think hard about a budget. I would get a pen and paper and right down all the stuff that is missing and figure how much that will cost to replace. Then figure twice that for the stuff you missed and your time and labor on top of that. At that point im betting you can buy one in nice shape that runs and drive. Just needs a pint job and some minor rust fixed. Im not saying it cant be done if that was a flat back window hemi charger hell yeah its doable. But for a truck that can be replaced for what 5-10K in nice shape i would pass. get a nice one fix it up. Then once you have redone a nice one same year and everything then start on that truck with the son should be 14 and handy with the tools by then after helping with the first one.
I would not make any promises with that truck there is a good chance it will never see the road again. The amount of cash i see people spend projects like that is heart breaking. If you had a nice driver that needs paint and tires and new drive trains. Thats a year long project for a working guy to pull off. The truck you have is a life time of weekend hours. Your kids my love it but the wife will hate it in no time flat.
I dont want to sound harsh but have done some major projects and they never go as planned. Money just goes out the window. even grabbing parts from work and off old cars to make it all work there are so many little things that will cost money it will make your head spin. That kind of project after the body work is done will 10-50 dollar you to death. Every time you go to the parts store you will need at least 50 bucks worth of stuff and will be going often.
I love old cars but nice restored cars start as nice cars. Guys buy 57 chevys all the time to restore and never get anywhere with them. A nice start to a project is key to making it work for you and for any hopes of a budget.
This is a perfect example of where you want to start and end up.
http://www.hotrodders.com/forum/just-nice-looking-riviera-454170.html
the before pictures on page two.
I know i sound like a di** but really i got to say it. Seen so many people hurt themselves over the car they will never sell. I have had four of those cars all sold... Life happens. One of them went to the scrap yard in nice shape. Paint minor body work and motor, trans, rear can be a crap load of work by themselves. limit your self to that as a starter. At least then you can get in and see just what the last few parts cost. Painted projects still need a world of work before they go down the road. There is not enough there to start let alone finish. You think the floor is the issue but its not assume the floor is good and make a list of the other stuff it needs i dont even see one bolt or nut on that truck that can be reused.
A nice kit car or chevy II or other sought after car or truck will be a lot more money in the end and also be a lot easier to find parts for.
Antique & Collectible Autos :: 34 Ford
You can build these cheap.
Speedway has a mess of nice kits that will look amazing when done and you can know your dollar before you spend the first one.
Speedway 1934 Ford Club Cab Pickup Fiberglass Body Kit Car
for all the little parts that truck will need you can build a complete street rod that is worth 40K in the end.
A nice willys kit or a nice chevy steel body car is less work worth more when complete and will be more fun to drive.
I know im going to get flamed for this but you asked and i have to say no its not restorable. take those pics to any restoration shop and they will tell you to forget it. Unless they just want to bleed you dry for cash. They wont touch it. Any reputable shop will say sure we can do it but its not worth it. You only have 6 pieces of a truck not a truck. Hope this helps.