Half-ton modern pickups have a single ball bearing axle bearing just like modern cars have. They are not made for heavy loads. Full floater axle have two tapered roller bearings with replaceable races just like the front wheel bearings only much larger to carry the weight. The bearings also run in gear oil from the differential. It runs down the tubes and fills a reservoir in the hub. I always prefilled that reservoir on the trucks at work before I slid the axles in. The axle does not carry any weight, instead its "floating" suspended between the hub and the differential carrier. You can remove the axle and still roll the vehicle. We had a lot of 3/4 and on up trucks at the phone company with full floater rearends. Some you can slide the drum off and leave the axle and bearings in place and replace the brake shoes, others you have to remove the axle, then remove the drum, hub and bearings to get to the brakes. Then you always install a new grease seal because if it leaks, it soaks your brake shoes with gear oil. I had a '33 1 1/2 ton truck that had tapered rear axles with keyways, just like an early Ford. I never was able to pop those big drums off, I didn't have the correct puller. The next big truck project I bought I made sure it was a '34 with full floating axles, like normal trucks have so I can work on it. Plus, the '34 truck has nice little Ford hubcaps.
You adjust those rear floater bearings just like you do front wheel bearings, no lateral endplay but no preload or just barely a little since they ride in gear oil all of the time.
With the Ford Floaters you get this nice little axle cover held-on with two screws.