Red, the 261 would be an easy swap. Everything is basicaly the same. I'm not sure what your 53 uses for motor mounts but you should be able to transfer them to the 261 with no problems. The 261 has very good torque at moderate rpm. If you use an overdrive trans, stick or automatic, you can have a nice cruiser. I have one in a 37 sedan with a T5 5 speed and a 3.73 rear end. Took it from northern Illinois to Flordia this spring and ran 65 to 75 MPH all the way. No problems and got about 21 mpg. The 5 speed will be easier to hook up than the automatic but both are do able.
The 261 will be an easier swap than the 292.
Gael
