Among all the available options, I don't know if there is an opportunity to get a back axle with a higher ratio when you order a PLUS 4, Morgan proposes sport spare parts for the back axle, crown & pinion:
http://www.morgan-motor.co.uk/mmc/shop/index.php/motorsport-parts.htmlOn my 2005 PLUS 4, the ratio is 3.73:1 with the 5th gear you get 60 mph @ 2400 rpm inducing 57 hp. I found the revs too low and available power @ 130 km/h (80 mph) is relativly poor: 75 hp. If you want to overtake you need the 4th to get more acceleration.