Welcome to the Stovebolt
Your stock frame is already set up for a V8 and if you replace all of the suspension parts with new you'll have a nice driver. If you're looking for a road racer and need Corvette type handling then you might want to get a custom made chassis that your sheet metal will bolt right onto.
My '56 has a stock frame and I-beam axle and does just fine. Upgraded to a SBC 350 V8 with 4-speed and a Camaro/Trans Am posi rear, front disc brakes, power steering and AC.
I'd recommend you get the truck running and driving first and see if it meets your needs before jumping into a major rebuild. There are tons of half completed projects where the builder lost interest before getting it done. It takes way more time and money than you may think to build a truck...make a budget and then triple it and you might be close.
Don't forget to post pictures!
Mike B
