I'm building a k5 slowly too. I don't know if I would go 203/205. It's a cheap doubler if you already have the transfer cases. A 32 spline 205 isn't going to be cheap, and if you buy a 10 spline one, you might have to swap the front output shaft from being 10 spline. But you can always bore out the input shaft bearing hole to 90mm and convert it to 32 spline. Personally I'd do a econobox from NWF to the 205, think 241/205 doubler. A lot lighter/shorter bc a k5 wheelbase isn't that long you'll have a lot of rear driveline issues. With you wanting to ditch the body you could stretch it a good bit out back that'll help with driveline angles out back, but I'd save some of your stretch for up front. Mainly bc firewall clearance with stuffed tires. 52/56s is what I'm running in my k5, right now just have stock 52/56s but I've been considering going to 2" lift versions. While Kurt with diy4x makes nice mounts, I made something similar with a little slightly less adjustment for a whole lot cheaper.
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