I think it's a cool idea. The IH/Ford powerplant is probably a mule of an engine. Slightly on the heavy side. Some updated front springs would definately be in order. Not to mention the steering box will more than likely need to be relocated.
If you're going for that dare to be different category, why not look into a GM 6.2/6.5? They're plentiful and use big-block motor mounts.
