I think if you are able to put all the questions to bed that Richard and the others have raised, this could be a cool little drag car. They established a class at one time called Econodragsters, and the premise was basically what you are talking about. The idea was to find an old dragster and put something like a mild 350 Chevy in it with only one carb, and go out and have fun without breaking the bank.

It is a super way to get a reasonably fast/quick car without the expense of building and maintaining a ultra high performance motor. I think those econo cars were running in the 9's, if I remember correctly.

I hope you are able to score this one and that the chassis meets current regs. It would be fun to see it come together. However, start looking for a loooooooong trailer.

Don