Changing the ring and pinion requires a substantial tear down, a few specialized tools, and general experience. The gear change is a good time to add a Limited-Slip (if one is wanted) because the rear is already torn down to that level. It is also a good time to factor in the preferred, future tire height. A change of .25 or so, is alot of work/money for little change. I would not do all of that for less than .50 or so personally. The 3.55 is a good all around ratio. Price approximations= $200 for gears, $40-$130 for installation kits (several stages), + labor. Possible total costs "approximately" $600 per axle; not including a differential upgrade. Good Luck !!
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2000 F-150 XL, RC, LB, 5.4L, 4R70W, 3.55LS,
Class III tow, Payload #3, & Convenience pkgs.,
4-wheel disc/ABS, Chestnut/Parchment 40/60,
Ford bedliner w/Paintsaver & gas/wheel/spare locks,
K&N F.I.P.K. w/Outwears pre-filter, Superchip,
Dynomax ultra-flow welded 3" cat-back w/ 3" Y-pipe,
Hellwig front & rear anti-sway bars, Rancho RS 9000s,
Mobil 1, K&N oil filter.