well no the only way that it would lower the truck is if you put the weight on the truck itself if you put the weight on the axel tubes it would be unsprung weight just like the rear end itself. It would be just like having a rear end that weighed more.

 

I am not sure how a street vehicle would react but on a race car it is a very undesirable thing to add unsprung weight. On a dirt track car the basic formula is one pound of unsprung weight affects the car like ten pounds of sprung weight although I'm sure it wouldn't be that bad on an old pickup. But the 300+ pounds you would need to gain any traction would surely not be a good thing to have hanging on your axle.
Any one remember the first "funny" cars? They had the rear axle moved foreward to put more weight on the rear for traction. Almost immediately they started moveing the front axle foreward too.
The front to rear weight bias on empty pickups is bad enough and with the heavy 460 up front it is even worse and you need to either move existing weight back or put some balast back there. Most people who drive 2wd pickups in winter put sand bags or other ballast back there. You could modify your firewall and move the engine back a few inches which would help.
As for the pendelum affect it is true and for stricly handleing purposes you should try to keep ballast over the axle but also by putting it behind the axle, like say a weighted bumper, it has the added affect of unloading the front and getting more bang for your buck in weight transfer. In other words you can get the same affect as more weight over the axle without having to carry(accelerate) the extra weight, which on a drag car or stop light racer is what you are after. If you blow a tire or spin out at over 100 you will be doing barrel rolls as soon as you get sideways anyway and will probably die no mater where the weight is unless it is in the form of a good roll cage.

 

You're referring to the altered wheel base drag cars of the mid 60's. Drivers like Dick Landy drove the 1964-65 altered Mopars. Another trick for racers without limited slip was to lose/add a leaf to one side. The load upon acceleration would distribute power somewhat evenly to both tires.

My recommendation is just to try stickier tires.

 

My problems are not with the Dry hot roads.My problems are more in the morning or on damp days.Now I know there's not much I can do on rainy or wet days,but how do i maximize my traction more to daily driving as i'm not looking for a dragster but mearly a daily driver that get up and go when I need it to.