So it looks to be a SM420 4 speed transmission. I'm not sure if that is going to work if I go with a 327 up front. I may have to locate a T5. I'm going to see if I can get the truck into the garage this week and put it up on jack stands and scrape off the gunk on the rear end and see if I can locate any casting numbers or some how identify it. I'll also turn the wheels and see what the ratio is. Maybe pull the cover off and have a look inside. After looking at the outline of the old fenders on the bed side panels I'm thinking it's the '47 fenders that are the problem since the outline of the '40 fenders is a good 2" further forward, which would give the wheels the room then need.
The other part that is missing is the emergency brake and the lines. The pulleys are on the frame but I'm guessing when they replaced the engine/trans/rear they pulled the brake and just never replaced it.
Joe