A 1956 F100 is a very desirable truck. As someone who has just finished restoring - street rodding a 1956 Chevrolet Belair, I can offer some perspective.
Although, I'm somewhat of a purist, there is nothing cooler than rolling down the road in a classic like this that has a modern drive train and suspension and A/C. There are plenty of resources available like bolt on kits. You can spend lots of money on a project like this, and it can easily go over budget. If this truck has little rust like you describe, I'd jump all over it. I would plan on taking the body off the frame, and then building out the rolling chassis - new suspension components, and a crate engine. You may even be able to locate one in kit form. No need to go fuel injection, unless you want to.
Mine was an ex drag racer. I bought it to drag race, and had the rear end narrowed. When I no longer raced, the engine/rear end ratio made street driving not so fun, so I did a full frame off. I probably went a little overboard, but it sure felt good to waste a Dodge Charger off the line last weekend.
If you have a particular question, feel free to ask.
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