For that kind of "want", a clean body (as little rust as possible), and a solid drivetrain is what you really want. I've never even driven a 3-on-the-tree 40, but there's a cool factor there IMO. I do know a lot of folks choose to convert them one to a conventional floor shifter (top loader). That truck looks like a great foundation, but I just can't see anything over about $5k-$6k max, personally. that's assuming there is a solid condition hardtop that comes with it. Granted, I've not checked the market on a 40 in a long time (bought mine in '95 and have never once considered selling it

). Be patient - I know it's easy to get sucked into wanting one right now, and scared one's going to slip out from under you - but there are plenty to be had and doing your homework and searching for a while will give you more comfort in what a good deal really is.
Do you know where to check closely for rust coming through? Like the rockers and rear sill... if you see ANY, go ahead and assume there is a LOT. It grows once you start grinding away the paint. Also check the rear crossmember gussets closely - infamous for rot! Fenders can be had for relatively small cost, but then you are talking about paint - which is another can of worms. If I get some free time, I'll post some photos of what you CAN'T see, based on what you can.

Ramon