Yes, you can bolt up the 500-518 no problem to new gen hemi. You just need to use a different flexplate which you can get from mancini and others. I think it is around $100-120. It is pretty much the same as any small block. I am not sure of the 72 challenger is the same that US car tool made the mount for originally or not.
As far as which convertor to use, I don't know that either and was looking for that info too. I am sure the trans shops will know the answer. I was hoping to use the stock convertor.
Check out this link too, right from a member here:
https://board.moparts.org/ubbthreads/show...e=1#Post3930520I would like to get one out of a salvage car too that way all the goodies are with it. Does your friend use copart or IAAI? I see many for sale on these sites but is a PITA to bid on them if you are not a dealer/recycler/ etc.