[lolife99]

You're on the right track.
I would replace the leaf springs, if it were mine.
So many members on here are geared towards "the cheapest way",... that my answers also tend to lean that way.
(this economy is tough right now)

I really prefer using a flip kit on the rear of these trucks,... which would require stock rear springs.
But I also like a 4/6 drop on 73-87 trucks.
It's a very streetable drop.

Keep us posted on your progress.