This generation was the first to have 4 wheel drive available. That was first sold on the truck in 1959. The third generation lasted from 1957 until 1960.
Engine options on these trucks ranged from a straight block to a Y-block V8 to a more powerful Y-block V8.
This generation would end when Ford decided to redesign the whole truck, eventually ending up with a unibody platform for the next generation.
You can find these trucks in restored condition at car shows. You might also see some pretty wacky paint jobs on them, as they are very popular with the custom car culture. If you are looking to buy one for yourself, I suggest you check out what's available on eBay. You might also find some parts listings on there.