Yes, you are doing the math correctly.
I like about 10:1 with a manual, an auto can go to about 8:1 and be good. The thing to watch is the compromise between first gear acceleration and final drive in top gear. A close ratio Muncie, 2.20 first needs 4.56 gears to get 10:1, but requires too much rpm on the highway for me. I ran 3.55s for a few years and they were ok, but not great at either. 2.73s are nice on the highway, but with a 6:1 final drive in 1st are wayyy too steep in town.
Devin
This is good advice. :yes: 4.88s etc are gonna be super fun in 1st gear, but deathly awful cruising at 50mph. I had 2.56s which was awesome on the highway, I could cruise @ 70 all day. However, 1st gear was lack luster.
Think about where you do most of your
highway driving. Think about the maximum sustained RPMs you are comfortable doing while on that highway -
and think about what is the slowest sustained speed you will be comfortable to drive on that same stretch. From this you can work backward to find the lowest (numerically highest) gear ratio you can use to optimize 1st gear fun factor with tolerable highway revs. On-line calculators can help you with this.
If you have Microsoft Excel, I can send you a spread sheet I made that lets you vary a number of different transmissions, rear gears, and tire sizes to see how that changes your revs in each gear. PM me your email addy if you want a copy.