Join up here:http://www.jalopyjournal.com/forum/group.php?groupid=332 Several members have done the swap,it actually can be done using stock over the counter parts you will also find a HUGE "what fits" section that our members have put together.It will make a difference whether it is a Ford or Merc in some areas concerning the driveshaft and rear end.
I put a 302 and a C6 in my 54 ford. I was worried the C6 would be too big but it fit with ease. A c6 is overkill for a 302 but I had it on hand, at least I don't need to worry about hurting the ******.