Thanks everyone for your kind comments.
We got the rear axle housing sandblasted today and it actually cleaned up very well. It looked pretty rough before blasting and I was worried that it was very pitted. It seems most of the rash was just surface rust and a build up of multiple coats of old paint. The housing looks great inside, as do the gears and axle shafts, which was a relief. The cast housing has a December 13, 1971 date code, and the axle tube is stamped the 351st day of 1971 which is December 17th. It is coded for a 3.42 rear axle which is correct, and shows having been built at Detroit Gear & Axle on the day shift with a Detroit Gear & Axle posi carrier.
BTW - If anyone has ever thought about ordering a pressurized tank sandblaster for home or light commercial work, I would really recommend the Texas Blaster. I have had this unit for 5 years or so and it is flawless.
Here are a few pictures...
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