Everyone has different tastes. I think much of the charm of an old truck is lost when you ditch the solid axle. If you want an S-10 ride, maybe just drive an S-10. Ok so that is a little narrow minded, one of my best friends is doing a 40 Ford pu on S-10.
I think someone already mentioned dropping it and upgrading the brakes, or maybe just find a 70s axle with the disc brakes already on it.