With .72 overdrive, and 215/85 R16 tires (30.5 inch diameter) you will want at least a 3.90 rear end gear. You can go quite a bit higher numerically on the rear end ratio. 3.40 would definitely be a tired dog in first gear and 5th gear wouldn't be useful until 60-65 MPH.

1952 5-window - return to "as built" condition | 1950 3100 with a 235 and a T-5 transmission