Jim,
Sounds like a viable project.
As a point of reference 3/8 thick mild steel weighs 0.06 lb. less per sq. ft. than stainless steel. The difference between mild steel & armour plate would likely be less. ( 10 to 15 Lb. weight saving on the whole machine )
Most Chevrolet 6 cylinder engines up to about 1961 will bolt up to the earlier transmission. I have several CMP lift truck conversions with newer engines. The advantage with a later engine is full pressure lubrication & insert bearings.
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