So far, got a new rear, posi with 342 richmond gears and disk brakes (might as well upgrade). After inspection I sandblasted the rear and painted it as well as other parts that I would have to re-use.
From your discussions I decided to use an AFCO 1" sway bar, minor upgrade from stock, Leaf springs and shackles from Classic Industries, And searched and found a new pair of the discontinued Edelbrock shocks. Replaced the bump stops, and I just had to get the polished alluminum gear cover. (ebay)
New slotted rear disks, new calipers and all new brake lines from inline tube. I sent the driveshaft out to get new U joints and get rebalanced. Right now I am waiting for my new rear disk booster, master cylinder, proportioning valve. e-brake cable and a replacement rear center rubber brakeline and of coarse the drive shaft.