I would have had the same problem in my '48 but I am using a mustang II front end with rack&pinion. I was way to leary of putting modern HP in my old car and trust those old spongy drum brakes. There are several kits out there with short headers, steering knuckle systems that reroute steering and modern motor mounts that allow you to keep your stock suspension. If you do you may want to look into converting it to disc.

As for your dash, there are also several guage companys such as dolphin that offer after market billet inserts and modern 12v guages.