Question about '67 2wd to 4wd... sentimental reasons

[realm]

I inherited a '67 swb 2wd F100 with a 300 engine and 3 on the tree.
It sat for 10 years, but for $32 and a few hours of work we got it running, but blue smoke comes out and my friend said it probably needs new rings and an oil pump.
And it has no tires... all rotted.

So here's my question... it was my grandfather's truck, and has sentimental value, but I've never been a fan of 2wd trucks so I don't want to dump a lot of money into something I can't really use. I had a 4x4 I used all the time but had to sell it, so I'm looking to get a 4wd truck and then was giving this.

My best friend is a very good welder and mechanic, but he's never undertaken anything like this.
As I understand it this may be near impossible to do, as the frames are different between 2wd and 4wd.

I'd love to see my grandfather's truck running around again but I just don't have much use for a 2wd truck, I need a 4wd one for the farm to replace the one I sold, so I can't afford to dump money into a truck I don't need.

Thoughts? Should I even dare undertake it... I'm thinking not. Sad to see it sit, but I don't think it's worth the effort if it'd be hard for even an expert.

[FORDification]

While anything can be done with with an appropriate invest of time, sweat and $$$...but you'd be way ahead of the game financially and time involved with just finding a junker 4x4 and swapping your body onto that frame rather than trying to convert your 2WD frame to accept 4WD gear. There are plenty of rusted-out junkyard trucks that you could use as a donor.

[hotrod ford]

There is a saying my dad uses "if it rest, it rust". I'm sure your grandfather would apprieciate you fixing up his truck instead of rusting apart regardless of how you get it going. It's not like your getting rid of it, just a little modification. When it is all said and done the truck belong to the both of you.

[willowbilly3]

What Keith said.
One observation I have made, people around here all have 4 wheel drive and it gets used like hardly ever. It is nice when the roads are icey, we rarely plow around the ranch and make ruts when it's muddy.
I drove my 2wd 72 for 16 years in Alaska and went everywhere the 4wds did, only got pulled out twice and 4wd wouldn't have helped either time. I actually liked 2wd better because every 4wd I had was totatlly helpless in 2wd so you had to use 4wd just to drive around in winter. FWIW I had a limited slip in the 72, 31x10.50 TAs that I drilled 360 studs into, and I carried about 500-600 pounds over the axle (usually my Indy 500). On several occasions I pushed through snow that was higher than the bumper. Just my 2 cents on 4wd.