I have a 46 2-ton that I have been using for my business for about 3 years. It started with a Craigslist search for a zero turn mower and this popped up. It didn't take me long to make a new gas tank, make a wiring harness, etc. but the thing that took time was the brake system. Once I made the disk brakes for the front I was using it weekly if not daily. I finally pulled the engine out 2 winter's to rebuild and this past winter I pulled the can off to repaint...
This truck gets used daily be either me or an employee. It gets driven on the interstate at 55 MPH, sometime has many, many thousands of pounds on the back ( the heaviest to date is 11,000. ) The only thing that is not original are the front brake components. Still has the babbited rod bearings and non synchro trans.
I say all that because the original trucks are not that bad to drive. If you want to do some upgrades I would pull the engine find a new crank and rods so you can get those pressurized ( takes on small modification to the block ), Go with a SM420 transmission, and get some better brakes. You won't run 100 on the interstate, but you will have much less time and money into your truck than if you reframe it.... You should read the first two articles in the Big Bolts area. Grigg has done a great job in describing how you would get a wider axle under these Art Deco trucks.
I will also suggest that you to find someone with an original truck to drive before you decide to swap everything out. You welcome to come up and drive mine if you can't find one closer.
$.02 worth from someone that daily drives a 46 2-ton.
