IFS is not as bad as it is made out to be. i am lifted with 35,s, aussie locker, 5.29,s. This is a great set up for moderate to difficult wheelin. my buddy runs basicly the same set up with no lift. If this is the truck you have, or the best one to buy, go for it. dont sit around waiting for the perfect straight axel to buy, or wait to get the money and parts for sas. GO WHEELIN. now you will get frustrated when you want to move to the next level of wheelin, i.e. tuffer obstacles. The articulation or lack there of is easy to get used to ( hell, it adds a whole new pucker factor to wheelin) but when you really start to hammer and push the rig harder than it should be, parts will break. That is where I am right now, I want the straight axel, but my ifs will be wheeled untill that day. You sound like you are not going to be wheelin that hard soon. I wheeled a long time before I started breaking. Plus, starting with IFS gets you a wider rear end to start with. As far as street drivability, 5.29s with 35s gets me around just fine. My buddy has 35s with no lift, now some creative fender and firewall clearance will have to be done, as well as jacking up the torsion bars a bit.
recommended parts to make IFS wheel
gears,
locker ( I love my aussie )
IFS idler arm truss
lift if possible