Sounds like it was used largely as a farm truck and could have alot of wear just from doing that over time.
Maybe not (Occasional use that way) but still, the easiest way would be a simple rear end swap.
If the replacment rear has ABS and the specs of it match what it's got now it should work, no problem as long as the parts (Sensors and so on) involved are OK and it's wiring is good too.
As for any real issues from a different ratio'ed rear end, the speedo differences are probrably about all you'll run into with that, but do bear in mind it will be turning higher RPM's at the same highway speed and you can have one geared
too low (Making it run hotter) BUT that's in a case of really low gears and gas mileage will definitely be different regardless if that matters to you.
I'd have to think a unit with the same gear ratio should be found easily enough but if wanting a different gear ratio then that's the way to go here too, just find one of the ratio you want and install it in the pickup.
As for contaminants, that depends on how it was wearing before it broke.
It broke for a reason and exessive wear could (Not neccesarily "Was") have been the cause of that, meaning all the circulating of metal debris was done before it broke down. What you find when you tear it down will tell you the story of what was going on internally and what will need to be done to make it right again.
If you find slivers of metal inbedded in it's bearing surfaces when you check those or the bearings just full of it, best bet is again a replacment rear end unit since at that point you know you'll be going all the way through it to fix it....
And that may include setting up ring and pinion tolerances because there is a chance you'll probrably find the same stuff imbedded in the carrier's bearings and gears (Ring and pinion) or at least alot of scoring/scuffing/wear from it like it was lubed with sand instead of gear oil.
However go ahead and at least tear into it and see what you find, then let the evidence of what's seen guide you from there on what to do next because it could be a straight foward fix and all would be well again once done.
When you tear it down, be sure to post some good, clear pics of the damage and it's overall condition if you're not sure of which direction to go once you're in it and see the evidence of what happened.