I was really cheap a few years ago when I wanted to drop a beat-up 57 I had. I removed 4 leaves from the front end. It sat down nice, and I still had about an inch of clearance between the spring and bumpstop. Then I took it for a drive around the block. The spring settled and I was riding the bumpstop. Not cool. I put 1 leaf back in and that put it back to about an inch. It looked cool, but was lousy to drive. I would suggest considering a dropped axle more thoroughly because it does not affect suspension travel, and therefore ride. The biggest drops I've seen for TFs are 4", which is less than the 6" or so you will get from flipping the rear axle on top of the springs. Depending on how your truck sits, this may put it level, or even nose-up. Be aware also that you will severely limit rear axle travel if you put the axle on top of the springs without notching the frame. Might be OK for a cruiser, but don't expect to haul anything.
After considering all this, I decided to leave my current 55.2 at stock height. I've even come to like the way it stands proud.
Devin
