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Eh? As also did my 1976 Econoline E250 Pathfinder 4x4 conversion van with leaf spring front suspension. The NP205 chain driven divorced transfer case was noisy but frickin' rock solid like everything else about that van.
The only chain driven t-case in the 73-79 F-series that I am aware of was the NP203. 203's with part time kits installed were sometimes mistaken for 205 because they also had iron cases.
The easiest ways to tell them apart were that the 203 had an aluminum tailshaft housing bolted to an iron case, and the 203 housing is around 6" wider than the 205.
My truck averages around #8400 going down the road and my stock 332,000 mile NV271 has never had an issue. Probably be a lot easier swap than going electric. Also, the 271 can be shifted on the fly. Owners manual says do it below 55mph. I don't think the 271 or 273 can be shifted into low range on the fly.