Great discussion and lots of good input guys.
As far as the engine power rating goes, remember, the original 235 has 96HP and just about 200lb ft of torque. I took the original engine on the '48 2 ton, added a second carb and a 700R4 transmission (.69 OD) and it would do 70mph with a couple tons on it and pull a major load with no problem with the 2 speed in low.
The Repower diesel has 267 lb-ft and 160 hp at 3200.
