Go for it! I am working on installing an LS3 into my Coronet currently...

LS1_Ace is installing a 5.3/4L60 into his 69 Valiant over on FABO.
http://www.forabodiesonly.com/mopar/showthread.php?t=202836
http://ls1tech.com/forums/conversions-hy...-lots-pics.html

LS1_Ace went with the 73-up spool mount K-frame which caused him to need a custom oil pan. I have a feeling that if you trimmed the lip/box the edge on your 72-back k frame you could probably use a new GTO oil pan, as they are a front sump design and will clear the draglink very nicely.

The motor mount pad style and location is virtually identical to genIII hemi's, so with some simple mods, you can use hemi conversion motormounts from S&P or TTI and keep the standard biscuit mounts on the k frame.