If I went with a 465 x 203 x S/Case than yes. The Toybox is about $1700 and you have to swap out the output shaft, so add in the cost of a rebuild.
I got the 203 to split case for a reasonable price. I think I can get a 465/203 for about $250-300. Mating the 465 to a F bellhousing is easy. So the other costs are driveshafts, crossmember and linkage.
Having a small budget makes everything like 10x harder, but I'm sure I don't need to say that.
Now I'm thinking maybe I should just throw some 4.88's in the diffs and call it done. I like my highway cruising but it may be just a better overall solution to my problem which is burning clutch syndrome. The 35's just don't like the 4.11's off road very much.
Just trying to figure out the best place to throw my money.