I'm in the middle of putting one in right now.... I have everything exept the clutch & flywheel and I'm picking up the doubler adapter this weekend. My buddy has one in is 1-ton Scout hybrid and it's a great setup. It's a heavy setup too.... around 400lbs of cast iron between the 465, 203, 205 and adapters, so if weight is your concern, you might want to consider a different approach. However, it's probably the stoutest setup you can find, and is most certainly the least expensive, since everything except the doubler adapter can be found in a junkyard.
My TH400-205 combo was about 3" shorter than the 465, 10spline 203 adapter, 203, doubler adapter and 205, so driveline adjustment will be very minor.