djed50 I have red your post and thought I would throw in my 2 cents.
I have a 53 5 window with a 235, dual Holley/Webbers, Fenton hedders and Petronix ing. I am running Patricks 3.55 in a torque tube with good results. Fuel mileage is about 15 mph. I think you are on the right track if you want a daily driver. It has served me quite well.
Then I found a overdrive transmission and now I am in the process of changing everything over to an open drive line. A friend gave me a 55-1 rear end that I plan to use. The only reasion that I am going with an open drive line is that it gives me more options, and I plan to do some long trips with my truck.
I have also installed the disc brakes on the front axle. I did not use a kit, figgered that I saved a couple of hundred bucks by making up my own kit.
Hope this helps with your decision.
Tom