I love the ideas where you use something like a 203 backwards. I have heard the same being doing for a 205. I just wish they could be shifted on the fly to split gearsDid not know that. I had always seen them advertised like your saying with the gross rating and figured that they picked that to keep it out of the realm of CDL required loads and thereby out of commercial use.
I have always had a really stupid idea that I wanted to do but don't have the cash or home machine shop to make it happen. A NP203 rangebox turned backwards as a manual OD unit. I would basically just use it from a stop to select direct or OD but with the SM465 1st\OD would almost match the factory 2nd gear and it's pretty standard to take off in 2nd on those stock so I don't think it would be too bad. Gearing in the 5.38-7.17 range would become highway gears with a .5 OD.
I know the backwards 203 thing has been done by one guy with a K5 on mog axles and also by a land speed racing place but I don't have there type of cash to make it happen. and I don't know the projected life span doing that.