74 power wagon dream truck...

Those look like stock hubs to me, are they both the same? Take a picture of both facing the same way, front and back.

I had a ‘77 Chevy k20 once. It had those same style lockout hubs with the larger external mounted body.
Those are external locking hubs, I’d say correct for the year, (77 & older)

I never really see no downfall with those. Some have complaints about the bolts backing out, lock washers don’t work, shearing off the bolts, etc.
Use a grade 8 bolt there and loctite, OR take it a step further and use studs, or even use ARP bolts right there, either way, not a big issue.
turn those rotors if they got some meat left, you’ll save some money there instead of buying new. You might get another use out of them. buy reman'd calipers from napa, they're pretty cheap. use what ya got as cores.

Parts look fine to me. Clean them up a quick blast job and rattle can. G2G

I had to do the same with my ujoints. Cut them apart.

I'd spend the extra money on US made TIMKEN bearings, races and seals. National are okay, but...they're just not Timken!!