What is wrong with the frame I have? all I see wrong with it is it's missing a pitman arm and linkage,and some surface rust.
I didn't say there was anything "wrong" with it, just that you might want to do a lot of research before spending time and money . . . . on a very "unique" platform.
There's certainly no "1 right way to build a T", but to be sure, some ways have more advantages than others, while different builders/owners have their own preferences about what may constitute an advantage.
If all you're looking to do is make it into a drivable ratrod with as little $ spent as possible, that's a particular path forward . . . . the race cars in the background give me the impression that "beater ratrod" isn't your chosen direction though.
The uniqueness of the frame and suspension pretty well locks you into restoring what's already there, as opposed to readily available replacement/upgrade parts. The mounting location for the front shocks looks like it will limit the engine choices, as at least from the pics, you have a very short engine area.
There's a lot of old rusted steel there to be restored, have you got the time to invest doing that . . .
If it had landed in my yard, I'd take the body off, take it completely apart, and see what condition my condition was in . . . and move ahead after that analysis.
Analyze what you got, figure out where you want to go, and see if the former can get you to the latter . . .