I've got a '31 Chevy Victoria that is slowly becoming a street rod in my garage right now. It used to belong to my wife's grandfather, he passed away almost 18 years ago. My wife bought the car at estate auction when it was being sold along with a everything else to pay for her grandmother's care several years back.
Originally, we had thought of restoring it to original, but getting into the project, we found that to be almost impossible. The engine block and cylinder head (plus spare head) were all badly cracked. The wood in the body was eaten away and this is the one pattern that the guys who do wood kits don't have. So we decided to 'resto-rod' this for the most part.
I've already been boxing the frame rails and have a new center section X-member to get welded in. The front end is in place, a new Mustang II suspension. The rear will be leaf springs and shocks.
Engine is a 350 TPI from an '87 Corvette. I'm making a few mods to push a little bit more hp out of it, maybe 300-350 range, rebuilding it completely to make sure it will last 50k+ miles for me. Tranny is a 700R4 from an '88 Camaro, I've got a shop rebuilding that for me.
Biggest part of the project is replacing wood skeleton of the body with steel. It's taking a lot of time, but it is fun. Things have slowed lately as my oldest two kids are in college now and $$ for this has gone away to pay for their education right now. It will be back.
I look forward to getting out there sometimes to work on this--it's a nice break from work and all to get in the garage and weld or grind on the frame or body.