Plan sounds pretty good. I'd go with a taller rear end than the 3.73 though. I updated my '37 1/2 ton to a '55-'59 driveline. 235 with a SM-420 tranny and put in Patricks 3.38 ring & pinion. Gearing is still too low for my liking. I start in third, shift to fourth and at 45 mph I'm looking for another gear. I'm running pretty small tires though. Unless you are going to run tall tires or an overdrive, I would look for the tallest rear end ratio that you can find. I think a 2.73 or 3.08 ratio would work out pretty sweet. The 235 isn't a real rev happy motor.
