Rather than reaming out the steering arms, you may consider unbolting them from the spindle, flipping them, swap them side for side and reinstalling. That's how they used to do it in the '50's when they lowered a solid axle. I would think that would be safer than removing metal from an already relatively thin part to begin with. you may also consider heating and bendig the steering arms to allow for clearance, there is an article on this in the current issue of Ol' Skool Rods.
