Before you go under there and start grabbing things with a wrench, get yourself a factory shop manual! It'll EASILY explain how it all works.
I bought a '60 factory manual and the supplement for my '62, and it's come in real handy several times. I just pulled the whole front cross member and torsion bars out of a donor truck, to restore and swap into mine, and the manual was essential. It can be done without one if you know what you're doing. I've been around vintage cars for over 10 years as tech editor for a number of magazines, and still think a factory shop manual is a requirement.
-Brad
