It probably has a 351m and a c-6. Lay the vin on me and I can get you more details.
The M series motors are very stout, especially the 351 which is a 400 ci block only bored to 351.
C-6 is an excellent tranny too...but since Ford puts the same tranny into a new skin depending on the block it is to be mated to...NOT a new bell housing, bone yard replacements might be scarce. Although I have been seeing a good supply of these rigs for the picking lately.
Very torquey, and very robust.
My personal opinion of the 1979 f250 is that it is the best pickup truck EVER MADE. I am partial to the 4x4 with dana 60's front and rear and full time four wheel drive. EXPLORER edition, Absolute BEAST.
Galvanized body AND bed so probably very little rust.
One draw back to the m series blocks from FORD is that they don't make them anymore, didn't make them for very long and after market and upgrade components are very few and far between.
A good place to start to learn more would be a 78-79 Bronco forum, as the M blocks were the exclusive option in these rigs.
I would probably would not pass it up.
-bear
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