So switch it all over to S10 Blazer ( spindles, hubs, rotors, calipers ), buy longer studs for the 1.5" spacers, and I'm good??
As you go through yor car, identify stuff the is broken, or in an unknown state. Spend the money to fix the broken stuff first, but pause an recognize when an upgrade now saves money later. For example: the wonky 1978-unique rotors, wheel bearings and steering column. If the ball joints are in good condition, safe for now, then you can split them from the knuckles and drop the whole mess in the trash. GM elected to replace the traditional spindle with a packaged wheel bearing and hub assembly, but because the F-body, S10 and Asto van used the GM midsize chassis and suspension common to the A/G body, magically, stuff interchanges with very little modification.
At minimum, you will need the knuckle assemblies from a 2WD Blazer (not pickup) 1998-2003 only. Sometimes these can be for sale form the Forum, but see what's in Houston - the 2WD version is going to be more common down thataway. If the rotors and calipers are good, reuse them. The hubs may be good or they may be shot, and they can be $50 $120 each depending upon your level of quality, but they are easy to replace later once you start driving, so perhaps you can use the as-found and upgrade later. There are several Blazer brake Forum threads that will be easy to chase down.
The Blazer hubs will have metric lugs, so consider also upgrading your rear axle shafts and choosing the later version set up for metric studs. To upgrade later, since you will be using adapters, for now you can obtain longer 7/16-20 studs and matching lug nuts for the rear. I recommend you upgrade from the stock ones to the 'acorn' style which has a larger shoulder to bear on the wheel adapters. Something like this, but I have not bought from this particular vendor:
http://rover.ebay.com/rover/1/711-53200-19255-0/1?icep_ff3=2&toolid=10001&campid=5335822911&icep_item=253767300452. You'll eventually probably want to replace the master cylinder, and I have lately read about the right-hand drive S10 units a l;ot on the Forum. Not sure about the brake line thread pitch for a 1978 whether it will be compatible. Finally, if the car will sit for a while, don't drop money on new tires unless the current ones are leaking.
My kids want me to build Legos now, so I'll sign off, but forage the Forum and keep us informed. There's no need to upgrade everything all at once.
