[yossarian19]

With a '48, you can look into putting a C10 cross member in it. This to me is a better option than Mustang stuff because it's still half-ton truck parts. If you don't plan to haul / tow anything, then MII stuff is fine.
S10 swap would be my other favorite solution.
You'll improve the ride a lot by switching leaf springs out for leaves with rubber eye bushings or IFS with rubber bushings. Disc brakes are big plus and can be done a number of ways, including just putting them on the stock solid axle.