A friend of mine just re-installed the 440 in his Superbird that way, with homemade stuff.
It made a big difference with the Superbird because the nose is so long that a regular engine hoist won't reach in far enough.
When my engine is ready, I'm gonna try to use my engine hoist to lift the front of the Barracuda, and make some mods to my motorcycle/ATV jack (like the one pictured below) to put the engine/trans/K-member in. I used to put big, heavy Spicer trannies into my Inter-trash-ional truck with it, I think it just might work...