32driver, there is a lot to take into account but the fun factor is definitely there! I envy your thinking. Just to twist the vette thumb screw tighter you did mention in your first post,
"[snip]...one of the other reasons I never drive my old corvette."
Sounds like there are more reasons. I'm not a die-hard vette guy so please excuse this next comment. Would selling the vette fund your 32 build?

Ah - but would you regret the sale? That is the ultimate question, sounds like you're already thinking.