Hi Grigg,
I've read about your 48 1-ton, and I've started something similar on my 46 1-1/2 ton dual wheel pickup (9'pickup box). I recently bought (real cheap) an 89 Chevy P-30 Step Van as a donor. The 46 originally came with 700x20 tires, so I'm planning to narrow the front axle from the P-30 and use the 5/10-lug 8R19.5 wheels/tires so the 46 truck still looks basically original on the surface.
The P-30 has 4 wheel disk brakes and the rear axle is a Rockwell (model C -- whatever that means). The measurements of the rear axle match almost perfectly to the 46, but after I cleaned off some of the grime, I found out the Rockwell has 5:13 gears. I haven't started researching what gear options were available in that axle, but I would definitely like something faster. (If anyone knows where I could find this information, I would be very grateful.)
So, depending on what ratios are available, the Rockwell might be another option for you. If this model C does not have a fast enough gearset, then my plan B was also to go with a Dana 70HD. I don't have a lot of experience with this yet, so I'll be quite interested in what you find out.
Bob