I've got an sm465 in one of my k5's. I didn't really like the tranny at first, but the more I run it I really like it.
no OD, but it is a very strong tranny. I also use it to 4wheel, and that granny gear is great.
unless you want to do a lot of towing, or something where you'd need that extra low gear I'd go with something else (maybe a 700r4 or something like that)