Thank you everyone for the feedback.
We took it to Toyota because the E brake had frozen, and they looked at the frame. They found another crack on the opposite side and a few more holes as well. They said that the truck was structurally unsafe to drive and would require major frame repair, quoted in the thousands.

We'll probably just have an toyota/lexus salvage yard take the truck for around $2000, and search for another toyota!

They also said that the P.O had probably towed a salt water boat, and had the truck on the launch for quite a while in order for this much damage to occur.
Well, live and learn. Time for a beer! <img src="/forums/images/graemlins/cheers.gif" alt="" />