The 205 is an updated version of the 200...BOTH allow for one to drive without the front axle being driven by the driveline...all one needs to "turn off" the front axle is the lockout hubs.
As far as driving a stock trans truck with a 350, stock gears and tire size at 60...I drove a STOCK 230/trans/tcase/gears and tire size at 60 mph until I got a temp gauge on the tcase and found that to be a problem for the NP200...in the winter when heat is not a problem, I would drive up to 60 mph all over...in the summer, the tcase limited me to 45-50 until evening/night cooling let me go faster.
I would say that if your 350 can take the 3500 rpms at 60 due to it being in good condition, then you can do 60. I would use lockout hubs on the front axle and I would avoid paying your fuel costs...you know it will cost more than other stuff to run at 60 though so I hope you are already prepared for that.
Bottom line, the trans and axles WILL handle 60 mph...if your engine and a decent condition and well mounted NP205 is installed with that and lockout hubs on the front, I see no problems here...I would run one that way and I have run one that way...with a 230 even.
Lord send your Holy Ghost into our hearts and make the desire of our hearts Your Will.
Pro-choice, that's a LIE, babies don't choose to die!!