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Axle rebuilds are either 100% right or 100% wrong from what I've read. Guess that's why they're so expensive to have rebuilt. If you can do it yourself, you'll easily save hundreds. I don't know much about it, but you've got things like bearing preload and gear lash and if they're off by even a few thousandths of spec, you'll torch the works in no time. Even the break-in is unforgiving and different places have different procedures for doing so and they WILL void your warranty if you don't follow their procedure to the letter. Obviously if you do it yourself, you're just gonna have to do some research and find for yourself the best way to break in the gears. If you screw it up, well, you know.
I'll play devil's advocate and just advise that you find a reputable shop to do the work for you and then follow their procedure for breaking in the gears. Not saying that you can't do it, but it's a lot of time and a lot of money if you mess up.
I'm hoping to have mine rebuilt with 3.92 or 4.10 gears down the road not because I have big wheels, but purely for the performance factor. I want to swap the open rear for a limited-slip because my 2WD traction honestly sucks, LOL. I've gotten stuck in some rather embarrassing spots because of this and back when my 4WD wasn't working, this was a much bigger problem than it needed to be.
Open differential + mud = teh suck.
^^to add to this.
FACTORY limited slip is ****. Myself i suggest an aftermarket limited slip like an Auburn or Eaton TrueTrack because they do not need to be disengaged or anything like that. Locker is either engaged or not and a full time locker makes turning a ***** and eats tires.