Sounds like you're pretty green at this, which is fine, we've all been there at some time. Here's some study material for you so you'll have a better understanding of all that you're dealing with.

http://classictrucks.com/tech/0306CLstraightxxlebb/

http://home.twcny.rr.com/schickling/.../rebuild5.html yeah, it's not the same year, but he used some of the same parts you will, and in general what he's done would apply to yours.