one of my friends has a hot rod model a with a dropped straight axle, f-1 drum brakes, bias ply tires, early sbc, th350, open rear, etc, and we've gone 100mph+ no problem (except for aerodynamics!). he drives the car daily in the summer (no heater). granted, it drive like a honda civic.. you've just gotta pay a little bit more attention to where your vehicle wants to go.
you'll be fine doing sixty-five so long as you make sure everything's in good working order. later brakes are nice too. if you're not hardcore about the nostaglia thing, you could easily add disc brakes and radial tires.
ed