John,
The little bit I have looked into Dana 80's includes what everyone else has said. I think it is a good idea because of the increased weight carrying capacity and the ability to handle more horsepower. The wheel studs would be easily fixed by running wheels of a 2nd gen (our '94 has the same style wheels as my 1st gen, but 9/16" holes), you can weld the shock mounts on, and have the spring u-bolts made at a suspension shop. I am interested in hearing how this all turns out. As far as brakes, you could put disc brakes on the Dana 80. I would like to know how it turns out.
Jeremy