3.08 is a decent road gear, 2.73 is a little low, but manageable.
If you're interested in a 5 speed swap, the M5R2 Mazda transmission that comes in newer F150's has a decent OD and 1st is low enough to get you moving if you want to haul weight.
With my 4.9 1996 F150 and the same trans, I hauled a mobile home (16x84 custom) about 16 miles up and down hills, but I had to get started in 4LO and "pop" it into 2wd while moving, hard on the transfer case.
That particular trans doesn't do well with really heavy loads over time.
Another option is the ZF6, which effectively has 2 OD gears and a super low 1st (compared to other trans).
If you get a ZF5 or 6, make sure it's the one you need, which has a shorter input shaft and the small block bell housing.
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