Is it a 305 or 307? 305-chevy, distributor in the rear through the manifold. 307-Olds, distributor in the rear, manifold can be pulled without touching the distributor. As for doughnuts, there can be tie-rod breakage, ball joint strain and lug strain. But 10 years on a NY road can do that too. My advice, keep the front end lubed, and have some fun. As for the Smokeouts, probably not a good idea. The T350 tranny is pretty durable, but dont expect miracles. If your powershifting(shifts while the tires are smoking) stop immediatly. This can do severe damage to the clutch packs, and destroy your tranny. I think thats about it