I should have mentioned that the first vehicle I got to drive after getting my license was my dad's '54 3100. I remember the pro's and con's to this day. In doing research I recognize that dropped spindles are not available for the standard axle. A dropped axle would now be the route I would take. Additionally, power steering is a must for me. I want ALL the creature comforts.
I have already installed a 10 bolt rear end so the front hubs will have to be changed as well. Obviously, I'm not doing a restoration...more like a ratty restomod if there is such a thing. Nothing of any consequence will be hauled in it...other than what HotRod Lincoln mentioned!
I appreciate all of your comments. As I mentioned in my original post, cost is my biggest concern on what I do upfront keeping in mind of how I want the truck to look. If it's a wash either way, which is my best option. I know it comes down to my preference, however, I want it to be an enlightened one.
I wish some IFS bolters would weigh in.