welcome to the shop youg'un
can't imagine where the "dropping" suspensions idea comes from, the only thing likely to drop fom these ol trucks is the rusty bits
.... it's always a good idea to insure the integrity of all the critical fasteners, and the U-bolts that attach the axle to the springs can be subject to corrosion in bad climates .... OTOH, it's more likely someone was talking about the "rear end" rather than the suspension, and if it's been abused it could well wind up blowing the gears
you'll find that getting a shop manual, and maybe an assembly manual, would be your best bet for determining what's been messed with and how to put it right, for instance the 55-59 did NOT have the pedal operated e-brake, but the handle you describe to the left of the column
good luck with the project, keep looking around the shops here lots, and don't hesitate to fire out the questions
Bill
