I use a very similar 95 f350. It does fine. I think the $8k is off if it is 4x2, not 4x4. I regularly use the 4x4 in my truck, but I don't know where you dump. I have airbags, and the truck doesn't squat too bad. I needed the smaller truck as opposed to a 2ton because I also use it as a landscaping flatbed, and as a snowplow/salter truck. Though it will work great for you, my advice would be to buy all the truck you can from the get-go. That said, if this is what you can afford, it should do the job.
greg