Very nice! That motor is very very close to the 383 I've got in the 64 right now and let me tell you it puts a grin on my face from ear to ear every time I hit the skinny pedal. Your going to love that motor.
If your running regular street tires and they aren't wide then you will simply burn them off the car and shouldn't damage the rear end. If your running stickies or a wide tire that has some traction then you may want to think about a ford 9" under it. =)
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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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