nastbscott: For my 52 panel, which is "in process" I pulled the axles out, then pulled the complete torque tube assembly out and layed it outside the shop. Then I bolted in a "pumpkin" from a 56 chev pickup. My axle bearings are good so bought two new axle seals and re-installed my original axles. Its still a 6 lug but I also have 4 rims that are 6 lug 15" that I'm using.
As for the 700R4 it ia a good tranny and I have one in my 37 BUT a friend of mine who has, along with his dad, built transmissions for years says the "simply" and best way to go is to run a 350 automatic that has overdrive. I believe the year he quoted me was a 1987 up. He explained to me why the 350 would be best for my use but can't remember all the details as to why. So, I'm thinking about 350 for my panel that has overdrive! He says wiring is simple and it has less Coils(?) and will adjust easier.....I just can't remember all the specifics but I trust his word. He also build tranny's for rail dragsters and about everything else. Maybe someone here can contribute more to this than I can explain?
I might add that going from my original torque tube rear end gets me from a 4:11 gear to a 3.90.....I am not sure what it would be in the end running a regular 350 tranny or one with overdrive...but I'm going to find out!