If your new to restorations, I'd keep it simple. Put in a 235 I6 ( bolt in ) warmed over with intake/ headders, keep the 3spd, find a '49-'52 Powerglide rear end, they have 3.55's instead of 4.10's, makes a little better cruiser. I'd suggest against a MII clip if you have never done a clip b4, welding it in could be a problem to begin with ( bad welds/ inadaquate welder ) or welding crookid. I'v got a '51 Fleetline 4dr myself, mine has the rarer 235/ Powerglide auto, keeping it 85% or so original. have arleady bought non original interior ( tho a 1950's style, it's grape Purple and White Vinyl, pleated, has a white top cap and white piping ) but the engine/ trans will stay the same, have put on a outside sunvisor, I have had paint mixed to match the interior grape purple color, the interior/ exterior will be colormatched. will have wide whites on stock steelies, with baby moon caps.