This would be an EXCELLENT time to upgrade your clutches, brakes, etc... Gear ratios (spur and it clutch bell for sure!) If you want to get more speed (at the cost of low end power) or the reverse of these. Suspension parts as well. If you choose to upgrade here, be careful. Its easy to get...
Where this is something that has NEVER been maintained, I would run thru the whole truck. I would clean and lube ALL the bearings, the joints in the steering and suspension, put fresh oil in the shocks and go thru the diffs and the trans, clean and lube as well. I would also check out the...