What exactly is going on that you would ask about using a V8 flywheel??
You can't use V8 stuff on a 235.
If you were to machine a 168 V8 flywheel to fit the crank, I would expect the starter to need to be relocated as well. There is n good reason to do any of this, as the proper flywheels and starters are readily available.
If you are running 12 volts, you can keep the 6 volt starter and flywheel.
The two large holes on the pushrod side of the head are not drilled in the block. No, I don't know why, and no it doesn't really matter. In fact, some newer head gaskets have the larger front holes blocked off to help force more water to the back of the block, rather than letting it short circuit through the front of the block.
