My $900 '66 Suburban project begins...

[Oregoon]

Finally had a chance to snap some photos of my daily driver. Been digging the forums and researching the various projects I have planned. Here's some snaps, with a few questions for ya'll...

Basically, I'm looking to build a fun, family cruiser. I'm gonna drop it, swap to discs with dropped spindles, and c-notch the frame enough to get her nice and low. It has a 292 with 34,000 miles, an SM420, and a posi rear, with 4:11s. Anything over 55 mph approaches redline.

It needs a different tranny, or a rear end swap to improve driveability. While I'd like to keep my rear end stock, I'm not totally attached to it. The 292, however, is staying. So, what would you do? Tranny? Rear?

What would you use? Budget and simplicity are the watchwords for this build.