It's relatively rust-free and straight. One of the rockers is bent in, and the rear wells are cut differently (driver is almost Jeep round, passenger side is Cruiser squarish). There is some rust through on the rear bottom panel under the barn doos that is always rusted, and the top does have some rust holes all the way through under the driver side corner window. All in all not bad though.
It has custom cut axles. The owner said the front 44 takes Wagoneer inners with the stock stubs, but he did not have the inners. It is driver drop. The rear is a FF 60, that has also been shortened to near Cruiser width. I think he had one shaft cut down already, but not the other. The axles look like they would need complete tear downs and rebuilds. It has a carbed SBC, which the owner said runs, I guess a 700R4 transmission, but I did not confirm. He also says he has an original 2-spd Stak T-case to go with it but it was not bolted to the transmission. The front shackles are totally horizontal and bottomed out, it looks to me like they were mocked-up without weight on them so the frame mount is too far forward, but the owner said it was just because the bushings weren't installed. The front springs are outboarded. There is a 4-bolt steering box there, but the rest of the steering is not done.
I guess it would be a fine project for somebody, but there is a lot to do and it is very "one-off" with the custom axles, Stak case, and 700R4. I think if more standard parts were used, it would be a bit better as not everyone has this particular vision for a build. If it had a TH400 and Atlas, I would've taken it. If he wanted to sell it without the drivetrain, I'd take the body and frame, but I would never realize the value of a carbed SBC, 700R4, Stak, and custom cut axles that are less than one-ton strength. If somebody wants all of that stuff, I can get it and part them out and keep the body and frame for myself.