You can get your car to handle very well by replacing the front a arms, sway bar and switching to adjustable coil overs. I've seen many in the auto cross with these setups.
I did swap my engine and trans out to an LS1 / T56 setup. It's pretty easy to do in our A body cars.
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1964 Malibu SS, now a LS1 and T56, Back halfed, rollbar, narrowed 9 inch, 4.11 gears and 31x16x15 Mickey SSR's on Weld wheels.
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