I bought mine pretty original (even the tinworm) six years ago. Never been into concours restoration and I ain't got the money or the skills; so I keep it pretty much "as is" to the despair of all the polishers at the car shows I sometimes go to.
This is as it arrived at my house in 2005......
.... since then it's been used for what God intended it for....
..... but about three years ago the fenders and door bottoms got beyond what was acceptable to the annual roadworthiness test (known as the MOT test) over here in the UK. So I sent it up to a friend who specialises in old American stuff;
http://www.bryansrestorations.com/
.... and he fixed it up to look pretty much how it is but without the rust. Not "rat-rod", but something like a 48 year old GMC would look. Only thing that does now look slightly out of place is the new seat cover, but that's not too bad.
Link here to slideshow;
http://s75.photobucket.com/albums/i3...t=aef656e3.pbw
I won't claim for one moment that the paint's a perfect match but it passes casual inspection, even friends who know the truck have overlooked the missing rust!
Three years on the bed's nicely weathered, I give it a coat of teak oil twice a year, and the truck's still running fine. That's how I like it; a restoration would remove all of its character.