Wow, I didn't realize it had been so long! Rosebud is still in progress, slow as it may be. The plan is evolving, though. I gave the engine a fresh set of rings and bearings, a Comp 212/212 .480/.480 cam, and a Street Demon 625 carb. I still wanted to try out a quick fuel 450, but i got the Demon at a pretty nice discount. It's running good, but blows bubbles in the cooling system. I knew I should have gotten the heads checked out. Since last fall, I've been using it to move other junk around the yard, and havent made any more progress.
In the meantime, I bought an '00 2wd Lincoln Navigator with a locked up engine thinking I would use its undercarriage for my '55 F100. The more I think about it though, I like the bullnose better than the '55. I also bought an '82 F100 2wd with thoughts of building a Bullnose truck with similar specs to a first gen Lightning. This truck had a 302 that was locked up, so I took it apart to see what was going on. I found a little bit of water in the #8 cylinder, and a bent connecting rod. It also had an AOD transmission, so that has been added to the parts pile.
So as it stands right now, the plan is to use the Navigator chassis, piece together a body from the '86 and '82, use the Rosebud engine and the AOD to build the truck that I want. I have never considered myself very good at bodywork, but it looks like I'm about to get some practice.