I acquired this truck a few years ago - I immediately replaced all the brakes (4 wheel disc Brakes) including the rotors and backing plates as well as the brake slave cylinders and brakes lines at the wheel. I also replaced the rear end seals. I installed high quality stiff KYB shocks and the truck was driving and handling very nice. I then put on some snow rated all season tires and got some steel wheels in good condition. Subsequently I was enjoying the truck for taking care of the household and yard tasks when I sprung a brake leak so I Parked it. After that I went to the hospital for a double bypass heart operation and now find myself unmotivated to crawl around my garage floor as I once did.
So the truck runs and drives - it has rust of course but remains solid in most regards except the brakes lines. The truck also needs the heater core (currently bypassed) replaced. You will likely need a tune up but the truck runs and drives well and should do so for the foreseeable future.
The truck has a hidden hitch behind the pan roll rear. Clean Interior. Good Exhaust. Good tires. Good glass. Good truck bed. All lights operable. The truck also has a limited slip rear end which means it can do decently in the snow with some weight in the bed.
Still a good truck with some potential that could be taken further or just the basics and you would have a good reliable work truck. With only 160,000 miles it has the smaller v8 and should carry on for many more miles.
This truck carries the antilock pump on the frame rail mid truck and while only one line is leaking it is in a cluster of other lines in this area that should be replaced at the same time. Once the brakes lines are sorted you will have new solid brakes all around.
Obviously with no brakes this truck will need to be towed. Bring your tow and some cash and lets get this good ole truck on the road.