Like Kent said, a lot will depend on what you intend to do with it. I have kept the original drum brakes and transmission on my 56 and am very happy with it. I have no interstates nearby that I have to drive on, and mostly just country roads with speed limits of 55, so I don’t mind going slow (I drive between 45 and 50 at the most) and taking it easy. But I did add turn signals and seat belts, as I felt they were an important safety consideration for where I drive.
Good luck and enjoy your project.
Lee.