My People,
I got my 79 when I was 15 from my uncle, has always been in the family. My father, uncle, and I restored the interior, new carpets, repaired floors. Very nice truck other than mpg's. Exterior, new fenders, doors, tailgate, paid for 1/4's but shop repaired them, all new paint job, new shocks, brakes (lines, master, etc), tune up, steering box, starter, rear leaf springs, you name it. Truck only had 72k, now only has 112k. Got 33X12.50 bfg tko's for 67.99 a piece in a misprint and ranchos all original.
Took it off the road 3 years ago, 1/4's rusted out (Upstate New York salters) and my sister backed into it. I start it up at least once a month and move it around a little, soon as fuel hits the carb runs great, have changed the oil but not much else. I am planning on putting in back on the road as a resto @ 9mpg not practical daily driver, it's an xlt ranger but bad heat in winter and no a/c in summer. Just needs tlc. Want to rebuild engine myself or at least top end, get a four barrel, intake, cam, edlebrock makes a nice kit w/ all three and poss headers and duals. Smokes a little at start up but probably just valve seats.
What are the first steps in getting my first love back on the road?
Will I break valve springs w/ a high dur cam? Is it worth a full engine rebuild as runs well? Basically my goal is show truck, original w/ larger tires and more power of course.
Sorry no crazy mods, want it to last, and people will shoot at you if go wheeling.

Damn, must be quite the Politically Correct capitol of the NE if people SHOOT at you if you go wheeling! Time to move!

In answer to one of your questions, yes, if you put a high lift/duration camshaft in that motor without re-doing the top end, I'd lay money that you'll end up breaking valve springs. I'd say do the heads and then swap in the cam you want. If you're not getting blow-by and have no other reason to suspect excess cylinder wear, you should be good to go. Definitely upgrade the exhaust and the intake if you put in a bigger cam, or you're wasting the effort. I've seen 351/400 headers going on eBay regularly lately in the $70-90 range, so you can get by fairly cheap if you shop around.

Good luck, and have fun!