The best replacement for 3.42 is 3.08.

The best alternatives to 3.42 are rated as following:
★★★★★  3.08
★★★★  3.73 gears
★★★★  4.10
★★★★  3.08 gear ratio
★★★  3.73
★★★  3.08 mpg
★★★  3.73 silverado
★★★  3.23
★★★  3.73 gear ratio
★★  4.10 gears
★★  4.11
★  3.08 rear axle ratio
★  2.73
★  3.08 gears
  3.08 axle ratio
  3.08 silverado
  3.08 ratio
  3.73 ratio gear

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Speaking about 3.42, one probably shouldn't forget about 33s.

Other search terms related to 3.42 and their ratings are:
★★★★★ 33s
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3.42
3.08
3.73 gears