Beautiful truck, and it looks like a great project. IMO I'm diggin' the color and overall look of the truck, but a drop and wheels will be a must.
Check out my build thread (Blank Slate) for the 4.5/6" drop we installed as well as the saga related to my wheels.
For me... change the rear bumper, drop it, new shoes, and drive it.
Can't wait to see what you turn out!