Drop spindles on a straight axle aren't going to happen- - - -there's no room to move the spindle up. Dropping the axle makes the truck a straight line only vehicle- - - -it will handle horribly in any sort of a turn. Bump steer will also be a problem unless you plan to do all your driving on roads as smooth and flat as an airport runway. IFS- - - -putting a sub-compact car suspension under a truck kills the load carrying capacity- - -that's OK if the heaviest thing you're planning to haul is an iced-down Yeti cooler full of beer to a tailgate party. If your game plan is to build a show truck that's going to be trailered most of the time, do whatever your budget will allow to the ride height and suspension. If you plan to actually drive it on the public roads, your safe, affordable options will be somewhat more limited.
Jerry