Here is my experience.
I did the whole JB Weld thing. For what it's worth, cold weld is a better product by far. All I had was JB Weld so that's what I used too. Mine lasted 2 months then a leak sprung in a different part of the cover... I was hoping to make it through the winter before I had to do something serious about it.
Once I saw that it had leaked through again I decided to fix it the right way. (Note: NOT THE CHEAP WAY!) As I was planning to keep my Tundra for a very long time, only has 118K.
Here's what I did;
Pulled the rear axle off the truck and stripped it bare.
Replaced the following parts;
Drum brake backing plates R+L
Parking brake bellcrank R+L
All axle seals
All wheel bearings
Both ABS rings
Both brake lines
Both wheel cylinders
Drum brake hardware
Both bump stops (mine were missing)
Studs and nuts that hold the axle shafts to the housing (8 of each, 4 on either side)
Cut the old cover off the axle and prepped it for welding
Had the Barnes 4WD cover welded on
Immediately had the axle sandblasted and powdercoated matte black
While I was at the powdercoaters, I had them blast and coat what Toyota calls the "spring seat" it's the metal piece that the u-bolts go through.
While the axle was out, I replaced the studs with M10x1.25x40mm socket head cap screws grade 12.9 and red loctited them in place.
I did this because the factory studs have been known to work their way loose over time.
Got locking nuts for said cap screws
Replaced the factory axle breather for a Nissan unit (same thread) it's just a barbed fitting and won't clog like the Toyota one, but you must run a line to extend the breather where it can't get water in it
Picked up a TRD limited slip unit
In the meantime I had my rear diff sent out to ZUK (Toyota Gear Installs
) and had him install the TRD LSD and also had him swap out my chewed up (horrible rust and pitting) diff housing for a nice, clean, rust-free Arizona housing
My drums and shoes were brand new so they stayed on
Replaced the bushings for the steering rack too (not that it has anything to do with the rear)
I also added a stainless steel MBRP exhaust while I was working on the truck because why not
This is what I did, I don't like to do things twice, I really went overboard on replacing EVERYTHING but it's a good feeling knowing that it was done the right way.
Any questions, feel free to ask! I'll answer to the best of my ability!