700R4 and a NP205 in a 78 K10

[Ziptar]

I looked at 78 K10 with a slipping tranny and a bad transfer case this week. Near as I can tell from looking stuff up it's got a TH350 and a NP203 (Full Time, Chain Driven) in it.

If I bought it I'd like a 700R4 and a NP205 (Part Time, Gear Driven) in it.

Whats it take to swap them in? Just repositioning the mounts and drilling new holes? Do the drive shafts bolt up? or would I need the drive shafts for a NP 205? and do those bolt up to the axles? 78 is going to be 12 bolt rear for sure.

Can I or should I use the later auto hubs if I go to an NP205?

1979 Silverado C10 w/ Olds 5.7 Diesel Looking for a Solid / Decent 78-79 truck to donate it's drivetrain to.