The 1954 Chevy 2dr Bel Air
Project Plan

Plan A
Daily Driver
Engine: Chevy 235 inline 6
Electrical: Painless universal GM wiring harness
Steering: Stock Steering, Stock Brakes
Transmission: Stock 3 Speed on the column
Rear End: Stock

Pros: Stay Original, Lower Initial Cost
Cons: Performance, handling and braking not compatible with Phoenix, AZ Traffic, some engine parts had to be custom made, 110+ summers
Plan B
Daily Driver
Engine: Chevy 283-327
Electrical: Painless universal GM wiring harness
Steering: Heidt's Rack&Pinion, IFS, Front Disc Brake system
Transmission: 700-R4 from Bowtie Overdrive
Rear End: 1982 Camero 3.73 Limited Slip

Pros: Enough performance for Phoenix traffic and power for A/C, handling upgraded, Braking upgrade
Cons: $, lots of work

Plan C
Daily Driver
Engine: Chevy 350
Electrical: Painless universal GM wiring harness
Steering: Heidt's Rack&Pinion, IFS, Front Disc Brake system
Transmission: 700-R4 from Bowtie Overdrive
Rear End: 1982 Camero 3.73 Limited Slip
Pros: Saved several thousand on engine
Cons: Forgot to consider the rest, still lots of money and work, 350 puts out a lot more heat than smaller engine (hindsight)
Plan D
Daily Driver
Engine: recycled Chevy 4.8 liter
Electrical: Painless universal GM wiring harness
Steering: Heidt's Rack&Pinion, IFS, Front Disc Brake system
Transmission: recycled 4L60e
Rear End: recycled 3.73

Pros: Clean, Powerful, Economical, Cheap
Cons: Me a computer nerd was afraid of the computer for this engine

I decided early on not to keep the original engine.  This was after I removed the engine and took it to a engine re-builder and was given an estimate that I considered, at the time, to be high.  It got me thinking about the practicality of a 125 hp engine in a 3200 lb car trying to keep up with the traffic on the interstates in Phoenix in 110-115° temperatures with an air conditioner.  I started looking at options "B", "C" and "D".  In hindsight I do not believe I made the correct choice.  The best choice I think would have been a newer inline 6, keeping the original transmission and rear-end.  This would have been good if I had known I would end up in Tucson where 99% of my driving is on surface streets.  My justification for not seriously considering a 6 cylinder was that it would be just as much work to put in a newer six and upgrade the steering and brakes as it would to put in a V-8 and if you increase the performance you must upgrade the handling and braking.