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Check the cost VS ordering a new set of axles from Moser or Strange (available from Jegs, Summit) The have street axles for ~ 300.00 a set already drilled for several different bolt patterns, choose your pattern and press in the studs. Change your mind? Knock the studs out and replace.
I had mine done at Quick Performance in Ames, Iowa. I took them the old axles and a new set of brake drums. They redrilled both to 4-1/2" bolt pattern. They drilled and tapped them and they use an Allen bolt for the stud. On mine, we didn't need to fill any of the original holes in the axle flange, some may/will need a hole filled depending on the design. With 2 new drums, drilling, removing original bearings and all new bearings, seals and retainers it ran me around $400 total. I chose to put new drums on so I would get the maximum time out of the operation. Mine has worked great so far. No problems and highly recommended.
I do them all the time for customers stuff as well as the mosier axles in my truck they were 4 3/4 and I needed 4 1/2. Drilled the drums as well using the same setup.
I Set them up in the bridgeport and super spacer find the BC and start drilling not a big deal at all. Get a good bit and turn it slow crouding it so it cuts and does not rub or you will kill the bit in under 10 revs. Flanges are pretty hard so they are a little hard to drill if you have never done it but not too bad.
Or for the same money you could have gotten a brand new set of Moser axles with the flange predrilled with 3 different bolt patterns, and not had to tie the truck up waiting for the axles to be returned from the machinist, or worrying if the original axles were not already stressed and/or cracked.
Don't forget to add shipping on top of the $75 bones. Every penny counts and I can use that $75 somewhere else. For a regular driver I don't think the stock axles are going to be a problem even though they are old.