Cruiser_King, You seem to have made up your mind that you want to be SOA. While I have no doubt you can SOA your truck for $1500 please consider the following. From my personal experience I found the SOA mod creates a ripple effect that perhaps you have not thought about.
The big lift means you will want larger tires to fill those huge spaces in your now empty funny looking wheel wells.
Those big tires are going to require some type of gearing in the diffs or tranny if you want back your crawl speed. I went with a Toybox, not cheap.
Those big tires are going to break stocks birfs if you wheel the truck very hard. Bobby Long has the answer for Toyota axles but the cost almost eats up your entire SOA budget. Trust me, no one wants to sit behind your built SOA trail rig while you change out the stock birf because you could not afford a set of Longs.
You will want some lockers so you are not spinning your wheels in your now much more capable SOA rig. Lots of options here to save money. Weld the rear for almost free.
Build a bomb proof traction bar. If it breaks you get to buy a new gear set you were not planning on, or worse.
While you can SOA your truck for $1500 I doubt it will be where you want it to be as a wheeler. If you just want to drive it on the street, no problem it will do that great. You stated you wanted to wheel the truck. If you put that $ into a used 4" lift, some used tires, power steering, and lock it front and rear you will have a pretty capable fun 40 to drive on the road and the trail.
People are trying to help you here. Many on this board have more than 16 years experience working with these trucks. I thought I knew everything at 16 also and won't hold that against you. If you choose not to listen or ignore their advice that is up to you. It is your truck and you may do whatever you like with it.
Just my .02
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