I'd say find a little sturdier rear end than the puny 10 bolt out of an S10. Perhaps something from a modern day 3/4 ton, as in the kind of truck the LS came out of. I've read of guys taking the front of the frame from an '80s 2wd pickup and it slides into the frame rails of the oldster pretty slick, then you get modern IFS, power steering, disc brakes etc. and if you use a 1 ton pickup then you get the bigger discs and ball joints.
Have fun!