would it be worth the time money and effort to install a bypass oil filtration system on a 92 f250

 

Depends on what you'd like to get out of the system. Yes it will keep you oil cleaner and make it last longer. If you're oil changing routine is going to stay at less than 10,000 miles, then it's probably not worth the investment.
Bypass serves two purposes:
1. extending oil life for longer drain intervals
2. satisfying someone who wants the best filtration they can get, increase the oil capacity by 10%, and who has some extra cash to spend.

 

well i want to extend the oil change as much as possible and not to worried bout cost

 

That would be the way to do it.