The 292 seems to me like a good swap, naturally, since I'm planning to replace the 1954 235.5 in my 1951 4400 with one. The motor mount offset is a little intimidating, but the engine size is a plus. Remember that the 292 was designed as a thin wall casting. It is supposed to be smaller than a 235, and I think the 216 was the same size as the 235.
I've heard a lot of people have concerns about cooling, especially fan heights. I'm not sure why. An electric fan, or two, thermostatically operated, should provide more cooling than an unshrouded and belt driven fan. Someone mentioned that he didn't want to run a pusher fan. If you turn it around, it is a puller fan, and should work better even when stopped.
Another consideration is an oil cooler. I plan to use a 7-9 quart system with a stock oil pan, one or two Wix 2 quart full flow filters and a good cooler. Even with the a 180 dF cooler bypass thermostat I suspect that the radiator thermostat will stay closed a lot.
