If you have the low hump (which you shouldn't, with a 4x4), yes, you will have to switch to the tall hump. You will need the transmission (complete with the bell housing) clutch & brake pedal assembly, clutch pushrod, bellcrank, and adjuster. If you can, trace his trans tunnel cutouts onto a piece of cardboard to lay out a cut pattern on your tunnel.
Also, you'll need the proper flywheel for YOUR engine (86 used a 1 piece rear main, earlier used 2 piece). Also, pick up a new pilot bushing for your engine, and test fit it on the transmission shaft before installing. During your swap, you'll have to cut a hole in the floor pan for the clutch push rod. Your frame may or may not have the holes pre-drilled for the bellcrank to bolt to, as it would have been a hydraulic clutch in 86... I'm sure there are other things I'm forgetting, which is sad since I JUST finished my swap from a th350/np203 to an sm465/np205.
Good luck....that trans and tcase are HEAVY. I used an engine hoist through the removable trans tunnel in my 76 to lift it into place, and just had to wrestle it into position.