50mm body lift in a 5-door Surf is entirely different to a Hilux or an early 3-door Surf.
The mention of gear lever mods is absolutely right - after a 50mm lift you can not select 2nd, 4th or reverse, and trimming holes etc won't fix it - the gear lever needs to be bent forward a bit or extended and the rubber boot probably needs repositioning as well to make things line up right.
The radiator can be lowered with a couple of lowering mounts (I make these for $65) and the front bumper can be refitted using mounts I make for $35 - or you can make them yourself - 100mm x 100mm x 3mm with 4 holes in it. You need to cut a couple of braces to get them to fit but it works pretty well. Just don't forget to at least unbolt it before you start the body lift or you will trash the fins on the fan, or the shroud.
Also, the front bumper mounts to the body at the sides, and also the factory flares are sometimes rivetted to it so take the whole thing off before you start for safety.
The front 6 bolts are standard length at around 80mm - replace them with HT130mm bolts - the rear 4 are 130mm long but have lots of spare thread, so you need only 160mm HT bolts to replace them - however they don't MAKE 160mm long HT bolts - they only go to 150mm so you need cap screws which are WAAAY expensive - but its your only option.
I can provide a complete kit for one of these (10 UHMWPE pucks, all bolts and bumper and radiator remounting brackets) for $280. I don't like fitting them, cos they are fiddly and make me swear a lot

But for beer I will provide help while the owner fits it (at my workshop)

If you drop it off and want me to do it then add $200 to the price (thats not neccessarily a true reflection of the fitting cost, but it IS a true reflection of how much I don't enjoy fitting them

)
As far as steering goes, there should be enough slip on both splines to allow the existing shaft to be used, although there is a proper spacer available out of Oz for this.
Hope that helps
Steve