Check HELIPILOT16 he had a post on what your looking for, under 50 OLDS TORPEDO forum listing HOT RODS / STREET RODS / STREET MACHINES posted on DEC 11TH
No problem dropping the front...just drill the spindles and put new stub axles in higher. Cut the rear coil springs to drop that end, C-notch the frame rails if necessary. Just like a real one.
Plan your work, work your plan.
Measure twice, post once.