For the rear, you'll also need longer shocks. It is possible to keep the stock length shocks, but you will get zero droop offroad and your shocks will top out over speed bumps, which will damage them and ride like shit anyways. The panhard drop is not necessary or even that important in my opinion. Your axle will simply be offset towards the passenger side a little bit. It's not noticeable unless you make a point of measuring up how much each rear tire sticks out. I do not notice any weird driving characteristics from this offset.
There are tons of options for the front. I'd recommend picking up some used first generation tundra coils (everyone seems to think you need the TRD version but any first generation tundra coils will work. I am running the non-trd coils and am getting just under 3" of lift and a comfortable ride.) and then the tundra bilstein 5100 shocks. They have 5 perches so you can adjust how much lift you want.
Either way, you will not be able to get as much lift in the front as the rear. Those 8 wraps may give you close to 5" of lift, a bit less after settling. In the front, the max you want to go is 3" of lift. I am just shy of 3" in the front and after an alignment, my caster is at 1.3° which is slightly underspec. The truck doesnt track the road as nicely at highway speeds because of it. There are also other front end components, such as CV axles, that see more and more stress the higher you lift the vehicle.
In time, I may even drop my front end down to 2-2.5" to lessen these problems. Lower is better in my opinion anyways.
There are ways around this, such as aftermarket upper control arms, and some members are running as much as 3.5" in the front, but the cost will increase a lot once you start adding things like that.
For the front, you will also want to buy a diff drop kit to help reduce the stress on your CV's. You can buy these at toyteclifts.com and they are very inexpensive. It's one of those things that, for the money, you'd be stupid not to just get it, in my opinion.
