Nice truck. The nose-mounted spare was typical back then, usually as a result of having a camper in the bed. This one has a 5th-wheel hitch in the bed, so may have been used to pull a big trailer.
It is set up the way I should have set up my '72, with a manual tranny instead of the C6. But I went with 3.73 rear gears, and I'd be worried that this one with 3.54's wouldn't have the torque in 4th to handle big hills.
Also, I didn't know that seats like that were an option. Don't remember that in '72.
Gary, AKA "Gary fellow":
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Dad's: '81 F150 Ranger XLT 4x4: Down for restomod: Full-roller "stroked 351M" w/Trick Flow heads & intake, EEC-V SEFI/E4OD/3.50 gears w/Kevlar clutches
Blue: 2015 F150 Platinum 4x4 SuperCrew wearing Blue Jeans & sporting a 3.5L EB & Max Tow
Big Blue: 1985 F250HD 4x4: 460/ZF5/3.55's, D60 w/Ox locker & 10.25 Sterling/Trutrac, Blue Top & Borgeson, & EEC-V MAF/SEFI