NICE!! If you could pull that off it would be a great tow rig. I'm thinking a juiced up 6 BT with a 6 speed.
I'd loose the vintage axles in favor of newer 8 hole style so you could have the option of alloy wheels plus get rid of the split rims. If you wanted to keep with the original solid front axle you could look for a 70s IH one ton axle or possible a 97 or earlier Super Duty front axle.