The 34 running gear will be scarce and expensive to acquire. By stepping up just a few years, into the late 40 or early 50's, you can have an almost-correct looking inline six for power, and much more available running gear that wouldn't require the butcher job a really late model V8 would need for installation. A 216 or even a mid-1950's 235 would closely resemble the original engine. Depending on whether you want to stay with an enclosed driveline, the options would be pre-1954 for a trans and rear end, or 1955-up for an open driveline. A post-1950 front axle will have Bendix brakes, another advantage over the Huck brakes used prior to that date. Front axle width might be a concern, so a 1940's vintage axle with upgraded brakes might be needed.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
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