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The axle should be tough enough but you may not be happy with the top end altho even that will be better than what you now have - especially if its a 6.
[updated:LAST EDITED ON 28-Dec-01 AT 09:06 PM (EST)]Yes it is a6 215 or the smallest one it *****$ and gets fairly well I can do 55 to 60 in it but it is obvously wound out.
The '53 rear end should hold up, but swaping it for a 9" is simple. I got the rear end out of a '67 f100 and it is a direct bolt in. The hardest part is the shock mounts, which are different. (you need the u-bolts and spring pads as well) I had the guys at the scrap yard cut the shock mounts off the frame of the '67 and I'm just gonna bolt them on to the '53 frame. (with grade 5 hardware) Conviently, I have my '62 frame sitting next to it so I have the correct reference points... :-) I'm not sure if I'm going to have to shim the springs to get the correct pinion angle yet, as I don't even have a motor or tranny in yet. Though I have a 429/C6 that I'm looking at in an old t-bird...