1tuf, I run a t-5 now but my first OD was the Borg Warner three speed OD out of 55 to 60 something? chevy car or truck. I put in a 55 to 62 meatball out of a half ton in my torque tube type housing. Had to weld in new spring perches or weld the old ones solid. This took a weekend and the results were great for cruising.
I didn't realize your 216 needed work, I thought you could just drive it to get the feel of it. It cost big bucks to rebuild inlines and I sugest you are sure that's what you want before you drop that kind of money. Even if you go inline I prefer the later 235 or 261, both pretty much bolt in.
You can also put disc brakes on a straight axle if you decide to go that way. Adco sway bar was a great improvement. My truck felt pretty top heavy before I put one in. This could add up to some change so it's best decide if you want IFS or stock before you spend (lotsa) money.
