The conventional wisdom is that the 2WD S-10 rear is too narrow for the AD (1947-1955) pickup bed. My measurements confirm that.
Also, by going with a newer Blazer rear, I got disc brakes.
The 4WD rear is about 4 inches wider, I believe.
My reasons for swapping gas tanks are stated above. One very strange thing I didn't realize at first...the four door S-10 Blazers have a sway bar that mounts to the rear of the rear axle. The two door models, the sway bar mounts facing forward.
So if you are swapping in a 4WD rear, and you want the sway bar, and you want to retain the stock gas tank, get a rear axle from a four door.