Garry,
There's the maths, and then there's judgement. So I'd say it depends on what sort of driving you're doing. If it's flat, long haul stuff, you should be OK with the taller gearing, but if you plan to head off to the Alps (or the Aussie equivalent), or your driving is more stop go, you may feel it better to change back. But please note, I (we) haven't got around to making the changes on my car yet, so my thoughts are hardly worthy of consideration. I might perhaps feel that a 5 speed box and a 3,46 may be somewhat excessive.
Can't say I wouldn't mind being in that particular fix, however. So, I recommend you send me your 5 speed box, and that way you won't have to change the axle again. Sound fair?
James