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Does the truck still go as fast and have the same amount of torque
so if you went to single speed it would have a lot of torque and cut the top speed way down like if you were just in first all the time
Yep, because you WOULD be in first gear all the time. However, if you somehow lock it into second then the opposite would be true.
I'm only assuming you are looking at keeping it in 1st. I've never heard of a single speed conversion that was an in-between gear ratio.