#1 thing to consider is the cooling system. With a more modern cross flow to start with you can probably get a radiator that will handle the extra load of heat. The proper tune up will help lots with the heating issue too.
If you're going to spend the money anyway consider a lower rear gear and a 200-4R transmission. Our 65 GTO has a warmed up 68 400 with 6X heads too. With a 3.55 rear gear on an Eaton posi carrier and the 200-4R you can cruise It at 75 and turn 2400 RPM with a 26" tall tire. You can build it your self or buy one that's good for 600 plus HP.
Have Fun
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