Welcome, those rims look like the old American Racing rims (aftermarket), and they probably used to be white. I had a 76 at one time that someone had put those on, seems like they must have been the rage back then in order to mount a wider tire as the stock steel rim is only 5.5" wide.
Good point, I'm running 4" skyjackers and made the adjustment to the drag link. I guess the best option would be to adjust both to maximize thread engagement on both rods (relay & draglink)
Perfect color 40 IMHO! I set my 2F timing by advancing it slightly more that the FSM would indicate, my BB is at the bottom of the timing window when illuminated by the timing light. I'm desmogged with a re-curved FJ60 distributor
The drag link (if stock set up) is in the DS fender well and runs from the steering box pitman arm foward long the frame to the center arm at the front frame cross member. Adjusting the length of that arm allows you to center the steering wheel.
My vote is 3” arms if you think you might go taller. DC will be dictated by the pinion angle, if the arms are going line up the pinion with the TC output flange (+ or - 1 degree) then you will be a good DC candidate if you’ve got vibes or “the growl”
Lock Right No-Slip in the rear of mine for years. It’s a full locker but without the clicks and bangs of the lower cost alternatives. It’s there when you need it, that said I’d probably look for something else if driving on snow and ice.
I went with the 2.5” Dobinsons VT coils (used) and 4” IMS shocks. Total lift is roughly 3.5” and of course this height lead to a Landtank DC drive shaft and 4” DVS control arms, not cheap at the end of the day. But if I had to do it again I would, drivability is solid and it’s been a blast...