Nice job..looks great!
Just another option instead of shortening the pitman arm.... When I put the 4" dropped axle in my 48, I just flipped the draglink to the underside of the steering arm and then I heat and bent the steering arms down so that the tierod would clear beneath the leaf springs. Just another way to do it...

http://i24.photobucket.com/albums/c13/rsg2506/dcp_0022-1.jpg

http://i24.photobucket.com/albums/c13/rsg2506/dcp_0007.jpg

-Rich

Here's a few pics of mine when I had the dropped axle in it.