I see a lot of guys are shorting the pitman arm by cutting and welding there pitman arms. I personally don't like to cut and weld steering items. I drop axles and get this question a lot. Hope this helps. I will later this year be posting pictures on my web site.
Chevy Dropped axle:

There are two different ways to modify your steering arms to make tie rod clear your springs.

Way # 1 Flip the ball ends on the steering arms over from top to bottom
1.Grind off flared end of ball end, press out balls
You can buy new ball ends from Jim Carter Chevy Part
www.oldchevytrucks.biz/47_55/full.asp?page=108
2. Bolt in new ball ends from bottom so nuts are on top of steering arm.
3. You will also need to flip ball for drag link on steering arm
4. Take drag link and heat up all of ¾” rod part to red
5. Stick socket part in vice. Take a pipe wrench and put it on other socket end and twist ½ turn let drag link cool naturally and slow (do not quench with water)
6. Now you can bolt all back together

Second Way #2 To use modern tie rod ends

1. For tie rod: Grind off flared end of ball end, press out balls
2. Take a 7 degree taper reamer and ream out holes from bottom (so nuts on top)
I use the 37-64 Ford tie rod ends from Speedway. They will make you the whole tie rod with ends for around $50
3. Install new tie rods.

For drag link: New style tie rod ends
First series:
1. On left wheel steering arm for drag link Cut off just the ball only. Then drill out to 5/8" and then ream to 7 degree from bottom up.
2. On the pitman arm knock out ball weld up hole ( let naturally cool ) Drill new hole out to 5/8" hole ream to 7 degree so nut is on inside. Speedway Motors can make you new drag link using 37-64 Ford tie rod ends

On 55-59 Chevy second series
On left wheel steering arm for drag link you need to flip tie rod end from top to bottom. Do this by:
1. Take a tig welder and weld a small bead around top hole. While hot take hammer and hammer weld down flat. Let naturally cool
2. Now take 7 degree reamer and ream hole from bottom up so nut will be on top.
3. Modify drag link. Stick one end in vice. Heat up between tie rods to red. Take a pipe wrench and put it on other end and twist ½ turn let drag link cool naturally and slow (do not quench with water)

This will drop down drag Link and you will not have to cut and weld pitman arm.