Firstly I'm sorry to hear about what happened to your truck.
I have previously hydrolocked the SOHC motor in my 98 explorer, the whole intake manifold must have been filled with water. I pulled the plugs cranked it by hand then cranked it with the key and "CRACK" I shattered the rear timing chain guide. This caused the right camshaft to retard by over 10 degrees and scatter plastic debris every where from inside my oil pickup to wedged behind timing chains and sprockets.
What I suggest you do is change the oil and filter several times to purge all the water from your entire oil system. Do it sooner rather then later to save your bearings. I suggest using the cheapest 20w/50 oil and filters Wal-mart has to offer. It took about 5 changes for my oil to stay thick enough for the valves to operate properly. After the first few times she was sounding like a diesel, due to the oil still being too thin. Whilst running the engine in between oil changes grab a broom handle and have a poke around, listening to one end try to find where the noise is actually comming from, topend, bottom end, left side, right side, ect... then try to narrow it down to individual cylinders.
A hydrolock is always a damn shame but it doesn't have to end that way. I was convinced my engine had met its demise but 20,000kms later she pulls stronger then ever. Which ever avenue you decide to take you will certainly have your work cut out for you. Although, the smile on your face once you fix a problem like this.