Thanks guys, I think it's a great looker and am excited about the restoration. Maybe I'll get Paul in on this to help out 8) .
I can get a 4.2L vortec inline 6 complete for under $1000. I'm going to call up some places and see if they'll sell the trans, wiring harness, driveshaft, and exhaust manifold with it for a good deal. I'd rebuild the original motor later in life when the inline vortec comes out for my T-bucket project (it's a dream in the works).
A mild 350 with the 700r4 is also very logical with some TBI. I hate carbs, don't get me wrong, they're okay for something like this stock engine, but I'm not swapping a motor in with a carb, it's just not cost effective when TBI can be had at the jy's complete for $100. Add a $50 electric fuel pump and a return line, call it good

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It does have 3 pedles and that's why I wasn't sure if it's an automatic. I thought they stopped the manual on the column in the 50's, maybe not.
Like I said, I gotta roll it out and see the undercarage condition. I hope it's not rusted out

but I'm ready for the worst.