I liked Bob's input - I'll have to look into the drop I-Beams when I go through my truck. The I-beam suspension seems to make the thing stay more level through turns than the A-arm and solid axle pickups I've had in the past, at least if you don't have big sway bars, so I wanted to keep the suspension.

Disk brakes would help, and Stainless Steel Brakes had a conversion kit (if memory serves) that would make that bit of it easy enough.

The stock ride height on the '65 I've got is not bad - the old '60 we used to have rode a lot higher. But a couple of inches of drop would work.

Cool thing is that (as it was explained to me) the suspension pieces are fairly interchangeable from 1965 to 1979, so there are lots of sources for parts.

Good luck with it.