I don't think axle shims are a good thing as less of the axle key will go into the hub. I'd grind 3/16 off the drum, 1/8 off the backing plate rim and chamfer the edge of the brake shoe. My website shows the surgery required. Don't forget to buy some of the support rings for the wheels as 40/49 drums don't have the ridge needed for model A wheels. They are part 5199-8 $22.50 each at Sacramento Vintage Ford. They also have a lot of the other parts you need. Warning, the 40/46 brake hoses are too short, you need a longer ones.
http://members.fortunecity.com/pjsauber/HydraulicBrakes.htm
I actually think a better idea is to remove the drum from the hub, insert an aluminum spacer instead of all the grinding, and then installing longer studs. I haven't done this route myself. But that is what Dave Wilton does for his bendix backing plates. I'm currently installing some bendix plates on the rear of my 28RPU.
Remove the drum from the hub, insert an aluminum spacer instead of all the grinding, and then installing longer studs.
You dont have to remove any from the outer edge of the backing plates,
you dont have to remove any of the outer edge of the drum,
you dont have to grind away any of the shoes.
You dont have to rotate the backing plate to funny angles.
Take out the lug studs.
Separate the hub and drum
Position the backing plate so the wheel cylinder clears the spring hanger and is in the upright position.
Mount the hub properly.
Calculate the distance the drum needs to be moved out to fit properly.
Make a spacer to fill that space.
Install new longer studs