I do not know what the cost would be, doing it as Deve describes.
I do know how to easily do it as Sweet describes:
- buy the gears
- buy the parts kit
- buy the cheap gauges
I'll price it out for you, after you price out the TOTAL cost of any other rear-end swap/conversion.
I priced it out long ago here (good luck searching for it). Those prices are no good now.
Also, pricing-in the shipping cost for many sources for parts, will make the cost of a parts-kits look real good?
The only advantage I can guess for changing to open-driveline conversion might be a final drive ratio lower than 3.55?