Is this drivetrain a good idea or a bad one?

[WyattTX]

It has been a while since I have lurked around on this forum, but I got a good deal on some parts, and was thinking of throwing something together. What I am thinking of working with is a detroit 10 bolt front axle, a np208 transfercase, a th350 transmission, a 305 engine, and whatever rear axle I decide on. I would install this in an '85 1/2 ton Suburban. If this is a bad set up let me know please, I wont get offended. It is strictly coincidence I even have these parts. I was not really looking for them, or planning to build anything. But I caught an offer I could not refuse. I appreciate the help. Thanks.