I've got a '73 Chevelle wagon rear under my '55 1st. Fits like it was made for it. Or at least it did after cutting off the coil spring and control arm stuff and welding on spring pads.
I've got a GMC 270 with an SM420 4-speed. With 3.08 gears I can easily run 70+ and it is plenty quick leaving stop lights. However it won't do smokey burn-outs, and if you put a loaded trailer behind it you might wish for deeper gears.