What To Do With It ??
Do a resto-mod on it and use it for towing. :) I'm a sucker for old trucks, lol.
Swap out the 8 3/4 and drop in a Dana 60 with a 3.73 or 4.11 gear, heavy duty rear springs, rebuild the 727 with a trans-go shift kit, new clutches, steels and bands. Add an overdrive unit from Gear Vendors.
Rebuild the 440 for about 9.5:1, stab in a hydraulic roller cam with duration in the mid 220's and a wide LSA in the 112-114 area and top it off with fuel injection.
That's what I'd do!