Originally Posted by Aage
Did you get it home yet? Lots to check if you intend to tow it...
Also, have a look at this article about axles. There's a simple test to check if yours are OK.
The Dura-Torque Axle
I think it is well past time to test the axles, 40 years old and been setting for a long time.
I see a trailer hitch on the rear bumper. I wonder what they pulled behind the trailer. Check the frame and signs of rear end separation. When you get it home, take your time, start with the major things that will get the trailer road ready again. Replace the axles with new hubs and brakes and shocks, upgrade to 16" wheels and tires, make frame and floor repairs before starting on the fun stuff.
Lot of information here on all these projects. Good luck and keep us posted.