Just purchased this 77' W-150 powerwagon (heavy half). Bought it for 500 bucks to build as a mudding truck. So far I have put $150 into it to get it running good. I had to get a new fuel pump, new fuel filter, an electric fuel pump to run along the frame rail, new plugs, plug wires, ignition coil, distributor cap, ballast resistor, an oil change, and I had to clean the carb. Runs pretty good now. I plan on doing as much as I can to this engine to get this truck running some decent horsepower. The floorboard is almost completely rusted out and will need to be replaced or fixed. The frame looks pretty good.
Update: Since the last time I updated this page, the truck has been lifted 7 inches in front (fabricated some new front hangers and rear shackles) and 8 inches total in the rear (before its all done I'm most likely going to do a shackle flip in the rear and eliminate the rear block), gearbox has been relocated to the 2wd postion so I can do the crossover setup (and it's been braced), the engine was placed on an engine stand and it has been a workin progress (picked up a cam/lifter set AND Hedman headers for $150 bucks off of Craigslist and got a Weiand intake from a junkyard for $25), and the front frame brace was bent up pretty bad so that has been straightened out and put back on. I have located a great looking new cab and front clip out of a junkyard and plan to pick it up asap. This other cab was going to take up too much money.
Rear axle: Chrysler 9.25
Front axle: Spicer 44
Transmission: TorqueFlite 727
Engine: Mopar 5.2 liter 318ci small block
Purchased for: $500
BUDGET: $1500
PICTURES:

You can see the rust on the door and the fender.

The truck is only blocked because my dad is super
paranoid. The brakes actually work great. You can
also see the bumper that was on it before I bought it.

Here is a picture of the flatbed. You can see
how rusted the bed is.

The truck is leaning because of a flat tire on
the drivers side (rear tire). The tire just won't
hold air but it doesn't matter that much
because these tires are getting replaced.

Here is a pic of the small block 318ci.

Here is another pic of the engine. It will be much
cleaner in a couple of weeks after I get to
replacing a lot of stuff.

Here is a pic of the cab and the front clip off
the frame. (I never got any pictures right
after the bed was sold).

Hood is in awesome shape but nothing else
that was taken out of the cab was salvageable.
The seat, however, might be able to still be
used (but will require an extremely talented
auto reupholsterer).

Here is a picture of just the frame, engine, tranny,
t-case, and front and rear axles. (The wheels and
tires are not on because the wheels are getting
sandblasted right now).

Here is a closer photo of this mess...

Everything will need be powerwashed, degreased,
and painted gloss black.

A few more bolts and the engine is ready to
be lifted out.

And the engine is out.

How NOT to take an engine out haha. Can't
blame us though, we had no other way. If
we had a hoist we would have used it for sure.

Engine is out and we are getting a real good
look at how this is gonna come together.

There is our new MF 596 that did all the work.
Couldn't have done the job without it.
FUTURE MODS: (not in this order)
1. Finish crossover setup
2. Wheels to be sandblasted and painted black.
3. Finish rebuild of engine
4. Paint frame and axles (most likely going with Bill Hirsch "Miracle" paint)
5. 8 inch suspension lift; 3 inch body lift
6. 35 or 38.5 inch tires
7. Get cab from junkyard
8. Rear shackle flip
9. D60 rear
10. 413 or 440 from motorhome
TAB
$500.00 Purchase price
$162.15 Other doodads
$30.00 Front leaf braces
$150.00 Edelbrock cam/lifter set and Hedman Headers
$175.00 Other engine components (i.e.- carb, intake, water pump, belt, etc)
$237.70 Engine rebuild kit
+567.85 Lift kit (Rough Country springs up front and Tuff Country springs bringing up the rear)
$1822.70 TOTAL
$1822.70
-250.00 - Price that the flatbed was sold for
$1572.70 TOTAL - over budget (oh well, who cares)
Let me know what you all think. I am completely open for thoughts, opinions, ideas. This is my first MUDDING vehicle (I only capitalized mudding because I do NOT mud my Jeep lol I love it too much to mud it. But I definitely go trail-riding and rock crawling with it.)