Hey Bowtie, that suspension sounds like a good set-up very similar to what I have for my 302. If I deceide to swap in a 408 I will go to a coil over set-up with a strut similar to a 90/10 up front.
I agree with 84- do the struts, shocks and, springs all at the same time. The lift bars will be a good idea, weld them in (plates to the axles) and you should go ahead and re-enforce the torque boxes upper and lower at that time as well. Don't forget Subframes Connectors. If you go with the SSM lowers get a set of adjustable uppers so you can still adjust pinion angle, I like the Metco's upppers personally.
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My Ride Check Out My Site 91GT, Holley SysteMAX II Kit-Heads 2.02" x 1.60",Full MAC exhaust 1-5/8" Long tubes, 2-1/2" O.R H-Pipe, 2 1/2" cat back, 12" K&N Filter, RNH PERFORMANCE Ram Air, Ron Davis Radiator, Full Suspension,3:73's, Welds, Best on new motor-12.60 @ 108, no traction 1.98