This K5 is a legend. I would not consider it salvage. These K5s are tough. I heard that it was on display for years locally.

Didn't this happen back in the 80's? I went up and down Lions Back a couple of years before this happened. I think they closed Lions Back down after this incident.From someone who was on scene at that incident, word is she was switching from 4 wheel drive to 2 and the vehicle began rolling forward, so t case in neutral and not letting it go back into gear she hit the brake and a brake line let go so quickly no brakes.
I know the ebrake on my 74 wouldn't have stopped me once I got a little momentum going, it was really only good for holding in position.
Hindsight being what it is, if you are coming down a massively steep hill, you ought to be in the lowest gear prior to even beginning to move. It was too late if the truck was gaining speed trying to shift low range in the t-case at that moment could have caused it to fail.If the tcase is in neutral and the brakes have failed how does one recover from this? Maybe this K5 was still using full time drive.
When I shift on a converted np203 part time case into 4 wheel drive I bring the K5 to a complete stop.