lowering a 48 3/4 ton

I have a 48 3/4 ton that I'd like to lower. I have swapped the 216 for a 235 and of course realised I have the wrong bellhousing on it after it was installed so the bolt holes dont line up for the bellhousing to crossmemeber mount. Back to the question, other than putting in an IFS, or swapping to a 1/2 ton front set up wich looks to be as much if not more $$ than an IFS, any tricks on lowering the ride height. I'm also wondering about transmission options, to go with an automatic what fits works and or would it be prudent to just do a swap to a 350..?  

the original bellhousing should have worked on the 235, I would have thought.
guess you'll need an aftermarket tranny tailmount crossmember now.
In any case if you want to go faster than 40mph, you'll want some sort of modern tranny.
There's no other lowering tricks, it's either IFS or dropped straight axle, but I bet you could use a smaller diameter wheel/tire combo.  

Unfortunately the 216 bellhousing is MIA, I got what I thought was another one which turns out isnt.. Thnks for the info, If i go with a contemporary motor any suggestions on transmissions? I'm looking for one that would bolt up to the motor and not have the shifter/selector behind the seat! other than driveability I'm not looking for a drag truck.  

A tremec 4335 out the current dodge/chevy trucks would be ideal, but haven't been it production long enuff to be found used. The shifter would come out the exact same floorhole with one of these. A Tremec TKO gives you 8 different shifter locations but man thats way over a $2000 setup. Borg Warner t45 will not work, shifter will be in yer hip.
Folks don't seem to realize is you can often either 'divorce' a bellhousing or mix and match many bellhousing/tranny combos..
An old plymoth/dodge 4 spd. manual trans from a late seventies slant six will work, fourth gear is overdrive on those.
then theres the Getrag [moost often found in beemmers] and New Venture transmissions of recent years, GM uses.
Don't find to many folks bragging on those gearboxes, thou.
Not much out there that will put the shifter where you need it.
What will work on a chevy v8 should work on a I-6 and most if not all these suggestions should work but with homework.
Most the older trannys had the right shifter location but were super granny low.
it may even be why so many started opting for automatics for so many years ago.
What yer really gonna need is a more hiway fiendly rearend, also.

the easiest thing to do is prolly an automatic, or three on th' tree.
I just nixed a muncie 4 speed out of my 59.
Shifter was right in my hip, even with my custom welded linkages and hurst relocator kit.
God I want the tremec, but am betting if money don't loosen up I'll bite the bullet and put in an auto and be a big sissy!