Welcome.As far as replacing the frame,that all depends on what condition the original frame is in.The frame in my 55 2nd was just like new so I put in a TCI M2 unit,comeplete with power rack and pinion steering.It has worked out very well for me.I also lowered the rear with a TCI 5 leaf spring kit.This involved flipping the rearend and putting in new springs, mounts,shackles,shocks,etc.Course if your original frame is in bad shape you might wanna look at a whole new frame setup.I used TCI stuff,but there are several other good companies out there,such as Heidts,Fatman,etc.Good luck and keep us posted on your progress.