From your picture of the truck, it looks like someone has already dropped it. Generally on the 69-72s the best way to go is with dropped spindles in the front and lowering blocks in the rear. A 292 weighs more than a sbc. If you need to replace the front springs, go with big block springs and then cut them if it sits too high. If you are doing the front end work, it might be a good time to put disc brakes off a 72 on it and convert to 5 lugs


Inliner #1916