There are, obviously, two options here: recycling, and reusing (basically anything else you had mentioned in the question).
For recycling one can look for recyclers who would pick up the vehicle, and pay for it. Big truck like F-350 could fetch up to $1000 depending on the market, because it has a lot of iron in it. Those recyclers usually would save the wheels/tyres and battery to resell separately (thus reusing at least some parts), with the rest going into smasher.
Important consideration is whether recycler properly disposes of hazardous materials, such as mineral oils, coolant and other chemicals or toxic metals, as it can be a problem. For more in-depth look at environmental impact of auto-recycling, there is 1994 UCLA dissertation “Auto Recycler and Dismantler Facilities: Environmental Analysis of the Industry with a Focus on Storm Water Pollution” (PDF).
To increase reuse, one might take off and sell (eBay, Craigslist) or give away (Craigslist, Freecycle) some parts that are in demand, such as front and rear light assemblies, seats and door-panels etc.
I would bother with reusing if the vehicle is in, or can be brought to, a good mechanical condition. There is not much comparative information, but the only F-350 of that generation (F-Series sixth generation, 1973–1979) on Fuelly.com posted 10 MPG average over 9000 miles (bottom of the page, 1977). If via tune-up (that is, avoiding proper overhaul of high-mileage engine) similar results can be achieved, it is not half-bad, as even modern petrol V-8s in one ton trucks can get about 13–15 MPG).
The best thing would be upgrading the current engine to a modern after-market systems (fuel injection, electronic ignition etc.), or retrofitting newer refurbished crate motor: either petrol, or, better yet, Diesel (which can be converted to bio-diesel). For that Mechanics.SE could be of help. Unless the vehicle is really in the mint condition, it would be more of a hobby project for wrenching fun and environmental gratification, rather than something that makes economic sense.