This is the specification I always post when this question comes up 3 or 4 times a year on this forum, and yes, I torque the rear axle nuts on my cars to this spec, and no, I have not stripped threads. I do make sure the threads on the axles are in good condition, and I make sure the nuts are original Ford parts, made to Ford specifications.
The 'V8 Times', Sept/Oct 98 Issue, pages 46 and 48, quotes several Ford Service Letters and later corrections. The final direction on tightening axle nuts reads: "tighten nut 356074-S to 200 to 220 foot pounds; then continue tightening to the next castellation providing final resultant torque does not exceed 275 foot pounds."