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I just bought a reman 73 MC I am wondering if it is a must to replace the spindles and front brakes with discs off a 73-79 or can I just rebuild drums and replumb with proportioning valve.
No, you cannot use either a disc master cylinder or a disc proportioning valve with drum brakes.
You can use a drum/drum master cylinder, but you'l need to get a proper proportioning valve to go with it. I have heard that mustang ones will work fine.
My son had a '72 F-100 with drum/drum non-power brakes, and we were able to get a reman master cylinder for about $25 quite easily. I assume it would be suitable for a '65 or '66 application, but you will still need to get the correct proportioning valve.
Your best bet is to get a '73 - '79 donor truck, and harvest all the parts from it. Use the calipers, booster and master cylinder for cores, and the rest you install on your truck. I even took the steel brake lines, so I don't have to make them, but the donor was a southern truck, so it had no rust.
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