Tell us about your engine. For example, a mild 350 works very well with 3.08 gears. In fact, when I got my 55 sedan it had a 350 with TH350 and a 7.5" 10-bolt 2.73 axle.

However, it worked great for cruising and had decent 1st gear performance, especially after I replaced the sluggish 750 carb with a 600, and loosened up the spark advance curve.
However, when I converted to a Muncie, first gear was way too tall without the torque converter, so I went to a 3.42. The 3.42 is a bit too much for the highway (~2900 RPM at 70 mph), but as it turns out I'm replacing the rear axle with an 8.2" 10-bolt with 3.08 gears. That will lower my highway revs by 10%, with the trade-off being a little more clutch slipping to get rolling in 1st gear. Again, not an issue with a torque converter.