modern drive train.
Easiest and probably cheapest is to use the C 4 and an 8 in rear end and change to parallel rear leaf springs, Old bronco V 8 oil pans and pick up tube moves the sump to the rear. You can buy new rear sump bronco design pans and tube. Mustang 5.0 from the 80;s has an oil pan with not as much space as bronco but might work. Then it's probably time to add front Disc brakes with the 5 bolt wheel pattern to match the 8 in rear. You can adapt to the old trans, change to open drive line, use the old rear end but the newer parts cost less, better brakes, etc,