that is a great car to use for racing. Easy to get parts for (both engine and body ) and you can get a lot of power out of that small block. But I would sell that powerglide and opt out for a turbo 350 or 400. Also a 12 bolt rear with c-clip eliminators.
P.S. That powerglide is a rare tranny selling it would help you fund most of parts for a good engine build
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