Yup, you got it. The D50 is essentially just a beefier version of the TTB D44 that was used in the F250. For some reason unknown to anybody that *I* know there are no aftermarket D44IFS axle shafts available. You can upgrade & strengthen a straight axle D44 by installing hardened chromemoly shafts that are considerably stronger and less likely to break with large tires and trail abuse.
As far as the rear end goes that's way easy, just swap in a D60 and be done with it. The D60 is a bolt-in and it's MUCH more durable than the 8.8".
As far as I know swapping D50 parts doesn't work for a number of reasons. Ball joint spacing is different and the spindle bolt pattern is different, inner shafts are different lengths, and it uses a different u-joint which may not fit thru the hole in the 5 lug knuckle. You might could swap in a whole D50 axle but since the beams are different lengths it has different pivot point locations so there'd probably be some fabrication involved unless you wanted to swap the crossmember as well but I'm not for sure since I've never tried it (hard to say, I *think* all the 80's crossmembers are the same but I've never ck'd maybe someone else knows). you'd be going into uncharted waters. I know there ARE 8-lug TTB D44 HD's out there but you run into the same problem of different ball joint spacing so that doesn't work either
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You CAN make a bastard axle using Brand-X parts though, here's a link to a good write-up:
http://www.off-road.com/trucks4x4/article/...l.jsp?id=198393