It can be done. You will have to go to an open drive shaft. You will be able to do 60-65 mph. I had mine up to 80 mph (not recommended). As you probably realize, the 235 is a better choice for an engine, but the T-5 transmission will give you good use from your 216.
There are several on this board that have made this swap. My swap was into a 37. I'm not sure you can use your current rear end. I don't know if the pumpkin will change out. Mine didn't, but there is some differences between 37 and 46. Even if you have to replace the whole rear end, it's a good trade off.
You will need an adapter plate. There are several to choose from. I used a Buffalo Enterprises plate from Steve at Buffalo. You will have to fabricate your master cylinder mount to work with the T-5, but it's not a hard fabrication. Your current master cylinder will work and so will you starter.
The stick shift will move back about 8" or 9", but should still work fine. The speedo will work with an adapter that most speedometer shops have or you can find one online.
I did mine by myself in my shop with no help. That means you can do it.
Check the "Tech Tips" on this site. John Sandoval wrote a great article on the T-5 installation into his 41 1/2 ton truck. I know John addressed all of the items necessary to do the deal.
Joe
