The plan (until my wife intervenes) is to rebuild everything, including the front end with all new bearings, etc, reduce the rear gears to 3.55:1 or 3.08:1 and rebuild the full pressure 235 with some modifications.
I don't have the budget for a new MII kit, but didn't want to do all this work just to be limited to 50mph from the front end.
My other concern is the front springs. The PO removed some leaves to lower the front end. I jacked from the frame rails and had my 3-ton jack all the way up to its limits and the wheels still weren't off the ground. Those are some soft springs.
Thanks for the input.