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Price is a good question. It depends. If the owner is/was in love with the truck they might ask too much just because. I have heard the line a few years ago – Well the scrap price is so and so – good thing metal prices have gone down. If it is not rusty like you say, (No Pictures!), and...

The shifting in low is done by the same components in the front of the transmission as for high. Shifting to low engages the reduction unit in the rear of the transmission. So you may be okay.

You should be able to shift from low to high without the truck stopping. If you start out in High F1 does it shift normal through the gears?

Normally the difference between Hilly (F2 High ) and Normal (F1 High) is when the automatic shifts happen. F2 High will hold the transmission in a lower gear longer. But all the shifts should happen without touching the shifter. You can go from Low range to High range at any road speed...