I'll add my endorsement of the 3.54 modification. I got in on the original project by Mike Lempert to reproduce the 3.54 gear sets in the late '90s. After plunking down my deposit, it was two years before I got the result. Most of the 107K miles I have put on my BJ8 has been on long cruises, and the 3.54 ratio lets the engine lope along at a much more comfortable RPM on the road while keeping up with (and passing, when necessary) traffic. I also think it's the best mod I ever did to my car.
Overdrive (and the 3.909 differential) remained an option to the end of BJ8 production, but most of the cars that did not get overdrive (and therefore got the 3.545 differential) at the factory were Home market cars or Personal Export Delivery where the first owner ordered the car without overdrive. Consequently, non-overdrive differentials were rather rare on Healeys. I believe they were used on other UK cars such as Austin Westminsters, though.