No problem, If that is what you want, then by all means, do what will get the most use from you out of it. I think that you are going to get into more money and fabrication than you think though. To completely go to 2wd and to get rid of as much weight as possible, here is what you are going to need to do:
Find a front axle from a 2wd early 70s ford truck. This will be the easiest to swap in. You will have to fabricate the mounts for the shocks, springs, A-arms, etc. from what ever the donor vehicle is onto the EB. Basically what you are doing is taking the front end off of something like a 71 F-150 and adapting it to the Bronco. You will probably have to do some major fabrication on the frame and inner fender wells to get things to fit in as they should. The other thing is that the axle will have to be narrowed, which can sometimes be a booger to get done right. You can't just take the hub off. It is all part of the axle and what holds the axle shafts into the housing. To do what you want with custom rims, you will have to put a 2wd axle under it or just deal with what is available for 4wd vehicles.
As far as the rear drive train goes, that is the simple part. You can get a 4 or 5 speed tranny that is bolted up to any 5.0 Mustang, Cougar, Crown Vic, etc. Any of them will work, but it is also best to get the bell housing to go with it. You will more than likely have to make a new cross member to hold it up because the Bronco trans is held up by the adapter between the trans and x-fer case and the new tranny will have a mounting system all it's own. As long as it doesn't have a transfer case hooked up to it, you will be ok. Then you have to get the driveshaft extended because you will be missing the length of the adapter and x-fer case. Depending on if you lower it or not will also become an issue. If you do lower it, you will have to move your rear spring perches on the axle. By this I mean you will have to cut them off and relocate them somewhere else on the axle tube because of the rotation the new drive line angles force you into.
What you are doing is a lot more fabrication intensive than if you just build it into an off road vehicle. The reason is that it is already set up to have lift kits bolted onto it. I have seen 1 EB in my life that was lowered, chopped and basically turned into a complete road vehicle. I saw it at a car show in Pueblo, Colorado. I talked to the guy, and he did a beautiful job, no question about it, but he had more into what I just described than I have into mine which is quite a bit. I don't want to sound like I am patting myself on the back, but have a very well set up off road vehicle, not an extreme vehicle by any means, but one that can tackle a trail that is of any rating. My point is that you are looking into an extremely big project that I hope you are up to. Fabricating, welding and a little creativity are all going to be your friends on something like this, especially with the front end.
Good luck on it and if you do decide to go forward with it, post your pictures so that we can see what your progress is like.
