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You can change the 8-lug to 5x5.5 by using 48-52 F-1 drums and brakes on your F-3 axle. They should bolt on. If you want to go with discs any kit that is made for 48-52 F-1 will also fit 48-52 F-2 and F-3...
I'm sure you know, but if you go with a lot smaller tire, it might look very odd, if you have the stock F3 fenders - the opening is a lot larger than the F1. So are the back fenders...
Plus, you'd have to look at changing the rears also, since they are 8 lug, unless you've replaced the rear end...
Hey OV1 where do you live. I have a diff. and front axle with springs, spindles, brakes and rims and tires off a 52 F1.The tires are like new. There are new king pins and wheel cylinders and flex lines on the axle.Let me know