47-55.1 New to me 1950 3100 - Making plans

[JdavUGA]

I just purchased a 1950 3100 that looks to be mostly original.
I plan on making it a daily driver, so I want to do some safety & performance upgrades including disc brakes and suspension upgrades. However I am planning on keeping the original 216.

For the front, I will be doing a Mustang ii style swap (Scott's HotRods bolt in is my leading contender). I'd like to add electric power steering - any reco on what set up might work?

For the rear I have a few questions.
What gearing ratio is best? We'll be doing a mix of in town and highway driving.
I am leaning towards replacing the entire rear end rather than just regearing, it seems the s-10 4x4 would require the least alteration (keeping stock frame & ride height).
If I change the rear end gear ratios, will that require replacing the torque tube to a more modern open driveshaft?

It is currently a 3 on the tree, but I am considering putting in a 200 4R automatic. Any advice?