I don't believe anyone in this newsgroup has done the M II conversion. In the magazine stories I've read I've never seen a mention of dropped spindles, so I guess they aren't necessary. Anyway, I would ask the manufacturers and follow their recommendations.
The consensus is that the M II conversion is a good idea only if you want to run a too-wide engine, e.g., an ohc Mod motor or a Lima, or an FE in a '65-'66. Think about it -- the M II design is only ten years younger than the 40-year-old shock tower design you've already got. The geometry is no better than the OE setup with a Shelby drop, and the strength is worse. Then there's the expense -- $2000 -- and the work involved.
If you don't need the wider engine bay and you want to go trick, go with a coil-over conversion from Global West or Total Control Products, or a MacPherson strut from Fatman Fabrications (or if you've just won the lottery, the hyper-expensive Revelation Racing).
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