If it was me, I'd look for some after market dropped spindles. With the dual I Beam type suspension, you would run into camber problems if you drop it any other way.
on ford i-beams you will need to go to aftermarket drop i-beams..go to AIM INDUSTRIES 1-800-289-9980 they gave me best prise on my drop i-beams for a ford one ton dulley i slamed to the ground.
do you look at truckin much? there is always companies selling drop beams in there.. a friend of mine just ordered a 3/4 drop for an 81 f150 yesterday.. ill try to find out who he got it from
Thanks for all the info guys.It was all very helpful but deal feel through and did not rade.I did check aim and was very helpful.Guy i was gonna trade lives too far away and we were unable to arrange transporting both vehicles for trade.Thanks again guys.