A full floater rearend has been used in racing and all forms of off-road applications for many years. It is stronger and safer than using a stock rearend. We use only disc-brakes, and the axle removes very quickly with  5/16 bolts so gear changes are quick.
This type of axle uses an axle shaft on each side that is simply splined at both ends and has a drive flange on the outer end. The splined end of the shaft slides into the internally splined steel drive plate that bolts to a hub, The axle shaft is allowed to float in the system. For a full-floater system, the axle shaft only serves to transmit the rotational torque from the differential out to the wheel. It does not carry the weight of the vehicle. On a full floater, a spindle is attached to the outer end of the axle housing. The hub rides on the spindle with tapered roller bearings. It is this assembly that carries the vehicle weight. As such, a full-floating axle system is considerably stronger. For those of you who carry heavy loads, this means your axle load capacity is greatly increased with a full-floater. If you do hard-core 'wheeling on big tires, a full-floater means that your axle shafts can also handle much more torque loading. Further advantages of a full-floater include being able to remove a broken axleshaft, yet still have the ability to keep a functional rolling tire on that corner of the vehicle. This can be done since the wheel actually bolts to the hub that rides on the spindle attached to the axle housing.