you do not need an adapter behind a 292 to a T5. it should bolt directly to your newer style bellhousing (any V8 one) w/ the larger hole.
a 292 has two offset mid / side motor mounts and if those are strong enough and made short, offer great support. the T5 has a rear stock S-10 rubber mount and those three should work. the later (larger hole) bellhousing centers the tranny & bolts directly to the T5 in my case. the T5 holes must be re-drilled to 1/2'' holes. I use grade 8 bolts everywhere. the sm420 has a smaller tranny hole.
http://s67.photobucket.com/albums/h298/1951otter/?action=view¤t=DSC00367.jpghttp://s67.photobucket.com/albums/h298/1951otter/?action=view¤t=579990-R1-016-6A.jpgw/ this being said I do not know 40's trucks and frames. this may be what the doctor ordered ?????