You will need to upgrade the box to an r151 if staying manual, and you will have to ditch the 4.88 diffs for ones to get some meat back into them. I run 4.56 and th700 auto behind my 5.0ltr injected 8.
Rear axles will be fine as long as you don't give them shit, and front axles and cvs will be garbage no matter what engine you put in when running 35's.
Ultimately for strength you will be looking at 30 spline longfields, chromoly hub gears (or straight drive flanges), HP front diff and ARB, ARB in the rear diff and chromoly rear axles. And if you staying with the manual box, go with the r151. And if you are going that far you will want to biff the c arm steering and go high steer as well.
Very rough costing is Longs $1500
arbs $1500 ech
HP front diff $500
R151 $3-500
Hub gears $200
High steer & all bits required $1200.
As I said a very rough guide, I only list the above items because these are bits you can't fab your self (well at least cheaper than you can buy them).
You still need and engine and all the annoying bits of shit that go with a transplant, tyres, rims, adaptors, cert and maybe labour.
Start saving your pennies

Ugly is a state of mind..... and the state of my truck!