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I'm working on installing a big block in my 1949 1 ton deluxe panel truck. Well one thing leads to another and I am considering upgrading or swaping everything.
What I want is 6 lug disc brakes and power steering. 20" wheels will be used so not worried about what will fit inside 17" rim.
I'm not sure which direction to go.

You could take a 1/2 ton axle and open up the U-Bolt holes to accommodate the larger 1 ton spring U-Bolts width. Do a 6 lug disc brake swap, add a power brake booster, dual master and power steering. There are several after market kits available. That is unless you're handy & can make your own set up.
But here's a tech tip to do a Dual Master Cylinder Upgrade -- Upd...-- by Charlie "Cletis" Hardin. If you like power steering there's a few different companies that supply the kits.
Here's another good tech tip about
Drag Link (Adjustable), Pitman and ... Jim "Caroline's Truck" Wilson

One thing about just upgrading your stock suspension is, there is no cutting or welding & once it's done any replacement parts such as rotors, calipers, brakes or even some suspension parts can be bought at your local auto parts store.

Swapping out the axle is one method. The 1 ton frame is actually 1/2" narrower than the 1/2 ton. With that being said, the 1 ton has 2" wide springs and the 1/2 ton has 1.75". In theory the 1/2 ton axle should line up. Like 80 Grit said, you could enlarge the holes on your axle. I'm not a fan of that idea, there's too much that can go wrong.

Another idea is to use 1/2 ton spindles and hubs. You would have to have a bushing made because the 1/2 ton king pin is .86" and the 1 ton is .92". I don't know if you could ream the 1/2 ton spindle out to work or not. There may not be enough material.

http://chevy.oldcarmanualproject.com/chevyresto/4971.htm

I'm thinking about 4x4 Complete axle and steering assembly swaped over. K5 early axles maybe... I'm going to have a look around a friends place with lots of chevy trucks... like 30+ mostly c20 and K series stuff. Years ranging from task force to C/k. No AD though.
In my search for 235 a family friend w closed , almost empty junk yard, informed me of a Van on the propperty w decent 235. Unfortunately it is un accessable until the snow and ice is gone.
Might work for steering at least.

If you're looking to run 20s, I would strongly advise using at least 3/4 ton axles, especially since you're looking at using solid axle 4x4 parts. Not so much for the extra axle strength, but more for the extra braking power. Big heavy 20 inch wheels are going to need all the braking power they can get.