If you've got a tach hooked up it helps a lot to see where you are now at each speed/RPM to compare. It really depends on how much sustained highway driving you'll do >60 or 70mph.
Here's a neat calculator, you can plug in your tire height and see what different speeds will do to the RPM and decide which gear is best. I'd lean towards 3.25 if you're sticking with the C4:
Randy's Ring & Pinion. RPM Calculator.
You'll have to pull the axles to get the rear pumpkin out so this would be a good time to have those 40yr. old bearings pressed off and new ones pressed on. You have a choice of finding someone who wants a 4.11 to swap with or taking it to a diff. guy and having them change the gear.
Jon
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'67 Coupe 289 C4, Candyapple red w/red deluxe int., PS, ext. decor group, light group, foxbody seats.
Next to install> stroked 333, AOD, 9" w/3.50:1, PDB.
'09 Black Warriors In Pink with glass roof - the wifes Mustang.
"If it ain't broke, I haven't fixed it yet" -Jon