Dennis,
As of right now, I plan to replace the torque tube rear with an more modern style rear, such as a gm 10 bolt or a 9 inch. whatever presents itself first. As far as the suspension, I was thinking about a 4 link rear setup with the panhard bar. Up front I will probably go with Scott Danforths IFS weld-in kit.
I think the truck should handle well like this and have a nice stance with drop spindles up front and smaller coils in the back to drop it alittle. Do you see any possible problems with this setup? Thanks, I love the way people on this site help you to avoid mistakes before you get there. Brian