I'll play the position nobody wants to.
If I just saved a truck from a junkyard, I'd be getting ready to spend some serious money on the engine, trans, axle, Tcase, brakes, and whatever else you worry about when driving. After putting some SERIOUS miles on the truck, then I'd think about a lift.
You'd hate to have it sit because there is no money left to fix the blown head gasket. Might look nice, lifted and all, but that's it.