The shifter problem is a simple one. I used a '84 T-5 from a camero because I wanted bucket seats (Shifter is at the end of the tailshaft)and it is shorter. It just nicks the passenger seat in my '40 Coupe in reverse
so I heated it up ever so slightly and bent it up. Works great! Jeg's and Summit have a Hurst Billet/Plus shifter that bolts right in. Shorter throws cost $165. They also have an B&M Ripper Shifter (Racing) for the same price.

The T-5 is great at stop lights as long as you don't bury the tach. I was told it won't hold up to thrashing it. I cruise on down the highway at 70mpg @2200 rpm with a 3:55 10 bolt rear.