That's pretty much the setup we used on short-track cars. Go for it- you'll need the big ball joint upper control arms anyway, so if you wanted to change to discs in the the future, it will be a breeze.
Won't work on your rear end, though; unless you upgrade to 4.5" axles.
They ran the 11x3s in NASCAR, too (and back then they raced in the rain :)).
