What would be wrong with keeping your current engine and transmission or finding a newer 235 six or better yet, a 261 six ? Rebuild the brakes with new shoes, Master and wheel cylinders , new brake lines and any rubber parts (Connecting hoses)Etc, Depending on the condition of your truck, You may achieve your goal of the $12000 budget and have a real Hauling machine. These old trucks are built like tanks and will not wink at an overload in the box or the weight it is towing. Every body and their brother wants to stick in a V8 and all kinds of fancy stuff and it all costs money and LOTS of study and planning. They then become disheartened and give up on the project when using basic stock for the era parts work fine and will make you a Screaming Hauling machine! Just my opinion, Jerry
