I think it'll run 12s easily if it hooks good.
The converter, like everyone else said, is the big question. A good 10" 3500-3800 stall would be great.

I'm not a fan of the MP Orange ignition boxes...I like MSD, but everyone has their favorite. Also, bump the timing up to 38° total w/ that combo.

AN 830-850 double pumper would be better than that vac. sec. carb.

I ran 11.80s at 3700# w/ a 10:1 compression 440 w/ stock 906 heads, 509/292 cam, Edelbrock RPM intake, 830 holley, 10" 3800 stall, and 4.10 gears w/ 28x10 slicks. 1 7/8" headers, 3" exhaust w/ flowmasters, pump gas, etc. etc.

CHIP
'70 hemicuda, 575" Hemi, 727, Dana 60
'69 road runner, 440-6, 18 spline 4 speed, Dana 60
'71 Demon, 340, low gear 904, 8.75
'73 Chrysler New Yorker, 440, 727, 8.75
'90 Chevy 454SS Silverado, 476" BBC, TH400, 14 bolt
'06 GMC 2500HD LBZ Duramax