From the 70's it should be a Dana..... the Sterling did not come in until the mid 80's.... We had a 73 F-250, and to remove the brake drum:
Raise and secure truck.
Remove lugs and remove tire (Left rear may have left handed thread)
Remove the axle shaft by removing the 8 bolts on the hub (like you have in the picture)
Remove the large nut inside the hub (the one that you can see in the 1st picture)
Now the bearings and hub are "free" from the truck, pull the hub away from the truck and remove the outer set of bearings and set aside... pull the hub the rest of the way off and the inner set should stay inside the hub.... now you have the "spindle" and brake parts and shoes exposed. On the back side of the hub is an oil seal, I would replace it while I was in there, that seal is the one that can leak and coat the brakes with gear oil. These bearings should be lubed by the oil from the diff.... I would clean and inspect the bearings, but I personally do not pack them since bearing grease and the gear oil in the rear end is not the same.... you could dip the entire bearing in clean gear oil before you install it. Also, when you reassemble it and have the wheels properly installed, check and fill the diff with gear oil. Once at the proper level, replace the plug (you do not have to tighten it fully at this point), and jack one rear tire off the ground, to allow the oil to run down the axle tube and into the hub. Put the truck back on "all fours" recheck and top off the diff, lift the other side, out back down and top off. This get oil back down to the hubs after the oil has drained due to disasembley. Recheck the level after a few miles of driving once the oil has a chance to move around more....