IIRC, a V-8 wont fit with it being IFS(assuming it is still IFS), you will need to do an SAS as well as a BL, you will also have to upgrade the drivetrain. A 4.3 Vortec will be cheaper/easier, and be much easier on the oem drivetrain than the V-8.

With just the winch and tube work, the stock torsion bars should work with a couple of additional turns, otherwise the 25mm bars from Sway-away would be the next best option.

More than tread lightly. Leave it like you were never there, nor anyone else.
'90 X-cab 4.88's 33 BFG AT's, rr ARB, Headers, Ignition upgrade, cold air induction.
'91 X-cab 5.29's 315's BFG MT's, rr ARB, custom bumper and flatbed