What can you guys tell me about swapping axles.

I have a 97 F150 4x4 with an 8.8 and 3.55 gears. I want to swap to a 9.75 out of an 01 Expy. The new axle is coded S939-P which is 3.55, 9.75, 14mm lug bolts.

What issues will I be looking at if I swap? I know the drive shaft will have to be shortened. Will my 16 inch wheels fit and will my master cylinder work? Also, I have not looked at the axle yet, but the owner tells me it has the airbag suspension.