I'd just swap the pinion flanges. much easier.
I am not sure how it is easier when it only takes 15 minutes to change a u joint. But if you do change the pinion flange just be carefull to not over tighten the pinion nut or you will change the preload unless you have a solid shim and not the factory crush sleeve. I have done it both ways with no problems.
The best way is to buy a 03 driveshaft rear flange from ford for about $35.00 and buy a conversion u joint part # percision 448 from napa or autozone. or you will need to change the differential pinion flange to the 99/01 style.
I did this about 2 or 3 weeks ago. It took less than 30 minutes to tap out the old u-joint and tap the new one in. Now if I put a t-56 the aluminum driveshaft will just bolt right on.:thumbsup: