I've never had a driveline from a TH350 next to the one LUV automatic driveline I have sitting around, but I sort of expected something like that. same trans family and all. Auto LUVs are sort of uncommon though it seems, at least around here. If you are looking to V8/th350 up a LUV, an auto truck is the obvious best choice though, you get all the shifter parts and such which could be useful, plus potentially you could make the driveline work.
As for the strength, I'd bet the driveline would hold up longer than the stock rear end would to V8 power. You might break the yoke or a u-joint maybe, but I'd bet the diff would grenade or a shaft would snap before the driveline would give you trouble.
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