I have looked it over pretty well so far and it seams like it's pretty good. I ended up replacing the carb with a non eletric version of the carb that was on there it now idles very smooth and reuns better. I'm going to upgrade the ignition to a multispark ignition controller with a rev limiter along with a better coil.
Then next on the list are:
New coolant hoses
Find the squeal in the steering and repair (it's not a belt sqeal)
Repair or replace the fuel tank
Install gauges Water temp, Oil press, and Voltmeter.
New headliner
Check the small amout of rust on the under carriage
Re route vacuum lines for 4wd system PO left a little mess
Remove unneeded vacuum hoses since carb replacement
Repair AC system so it works
Add cruise control
repack bearings, change engine oil, and axle oil
Thats the short list it really isn't to bad I am a little concerned how long the trans will go but that is a common concern of mine for almost any vehicle. I've been waiting for the day the trans gives out on my Taurus and 204k miles later its still pulling like a mule, but I've never cracked it open or changed the fluid in either .