smokinjoe,
your truck idea sounds good. but you will probably have to get your stock axle re-worked because I don't think anyone makes dropped axles for art deco trucks. depending on the amount of drop you will probably then have to relocate the steering box anyway to keep the geometry right.
Just some thoughts since I have been thinking about these same things as I rod my '41 3/4 ton. Keeping the staight axle and stovebolt but have decided the best route for me will be Z'ing the frame and channeling the body slightly to get it down to where I want it.
cheers
