Why not use a well built small block, pretty easy to set it up since the 265 V8 was an option in '55. As long as your thinking about a different tranny you wont have to worry about the bell housing issues between the old and new V8's. I would think a 383 would give you as much torque as you could need and you wont be doing high speed anyway.
1957 Chevrolet 5700 LCF 283 SM420 2 speed rear, 1955 IH 300U T/A, 1978 Corvette 350 auto, 1978 Yamaha DT175, 1999 Harley Davidson Softail Fat Boy
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