This is funny.. I had this transition too, my 55 SOA became quite large too. This time I am keeping it smaller. There has been good discussion on te mud lately about SOA and the issue is there is a "threshold" meaning SOA (which is awesome) you have to have 6" of lift to have a healthy spring pack. Even if totally de-arched. Or a big SUA pack which has lots of drawbacks. Really this and gearing are the only issues. My 55 was incredibly reliable, totally custom, and I would take it on any expedition. Up in Alaska (Whatley, etc) for example they don't roll with you if you don't roll at least 35" tires. So there are benefits to big. I never felt mine was particularly unstable, especially once I got it dialed and the SOA tuned just right, but the issue is the size.
Here is my first SOA. On soft springs. I *do* think if you are smart you can build them small and take advantage of that SOA. But requires custom including possibly (gulp) shortening/running shorter leaf springs. This was with 33" tires (the grey 60 below).
Second pic shows my 55 in "most dialed" stage. I finally built this rig so it could lose none of its original LC characteristics (aka, haul a load) but still handle well with big tires and SOA (the 55 - almost identical to a 60). I also think 35" tires are the *max* you want to run. 37" are huge, open up a can of worms and it is frankly amazing what you can do and gut up and over with 35" tires and the limit of the "crawling" I would want to do...
I say reduce height as much as possible. Otherwise, your axles DO have value to them for people looking for a bolt on SOA. You could sell them and your leafs, buy OME, and buy a new set of axles. Really, there is nothing wrong with this at all. If someone made a decent 4" or 5" suspension that worked really well, I would strongly consider that too. That, with Ford shock towers and nice long shocks and I think you wouldn't loose too much. That and 33" tires and I think you are golden personally