I say go for it. Will be a cool ride. I own an f body, 4speed car with approx 400hp smallblock. These cars are very stable & have a nice wide stance with a good wheel package. A few front end tweaks, an 8 1/4 posi rear & it will be a cool toy. First thing I'd do would be solid front bushings for the k-member, good kyb shocks, new tires & a good alignment.

The front bumpers & bumper shocks weigh a ton. Certainly a place to lighten up. I've done aluminum bumper brackets in the past.