yeah sounds rotted out to me. if you look up at the bottom of the cab when laying under the truck can you see any holes in the floorboards? are the cab supports both in the proper place? the kick panel is supposed to go down to the cab support on the inside then run along the support about half an inch and then go down the outer side of the support. i bet one side is rusted out and collapsed.
_----I
----_I________
---I!
---I!_________
the dashes are just to get it in the right position, the capital I's are the kicker panel, see how it comes down, then goes along the cab support and back down again. the cab support is symbolized by the !'s and the underscores (____) the view is from the rear looking forward to the front at the same eye level as where the rocker panel is.