2wd Front end decisions... IFS or what????

[The1960APE]

This is my first Blazer/Jimmy project,
We have been slow starting due to buttoning up the 61 Apache!
The Jimmy is a 72, started life as a 4wd, the previous owner converted the front, I believe it is a 73 and up 2wd K-member, it already has lower tubular arms, I bought a new set of upper tubulars. The plan is to modify control arms to accept coil overs and 4 link the rear.
My question to those of you that are experienced is: Are we on the right track? Should we seek a different K member? Buying a IFS or drop member isn't out of the question but is it really worth the 3-4K? I am not going to be using air ride, I do want it to be lowered to the point that a 20" wheel lip is very close to the fender lip but no lower. I have drop new 2.5 drop spindles that came with the Bear Brake kit, we considered notching the frame up front a bit to raise the K-member that we have.
Any advice is greatly appreciated!