I'd go with a suspension system using the MII geometry, however get a quality system with tubular control arms, forged spindles, and an anti-sway bar or at least provisions to mount one. Lots of units out there, let quality be the criteria and not the lowest price on Ebay!!!! If you want the car to handle like a '48 Chevy then you could rebuild the stock stuff.....they weren't very good when they were brand new so I doubt it would be very good all rebuilt!!!!! Sub frames from F or G bodies are ok, but it's no "bolt on" deal! along with the frame fabrication you're also going to have to address mounting points for the radiator support, inner fender wells, front body mounts and a whole host of other things!!!! I've seen a lot more "clips" done wrong then I've seen done right!!!!! Also you will have to make sure your ride height, wheel base, and track width is all correct!