For what it is worth I have a 63 and put an ifs in the front and lowered 4" all around. I kept the 15" wheels and they no longer look swimming in the wells-tucked everything nice while keeping the street ability Gave it a whole new attitude and sharpened the steering. Also kept the y but a glutton for tuning punishment running 3 Holley 94s.
1963 F100 292
1988 Porsche 911 Cabriolet
1998 Jeep TJ Wrangler
1995 Harley XL 1200 +.20 /stroker
still trying to find my nitch
I am putting a 3" drop axle with reverse monos on the front and a axle flip with reverse eyes on the back of my uni.So my opinion would be to lower it.Glad to here you are keeping the Y,pretty cool engine.Oh,and welcome to the club!
my 11 year old Granddaughter loves my 66 F 250 and I showed her pictures of the lowered trucks and she said "NO" absolutely not, Agatha is awesome the way she is.