Back in '88, I was going to UTI in Phoenix and a kid there sold a beutiful 81 Camaro to buy a primered 71 Nova. When he towed the Nova in, we kinda laughed at him for trading down. When he got the car over to the steam cleaner booth and popped the hood, I about sh!t my pants. It had a stock 87 setup in it. All he had to do was finish little things like fuel pump install, accessories and such. That thing ran in the low 12's @ around 110ish with a STOCK engine. I think it had 3.73 gears and slicks. The car hardly weighed anything.
I say DO IT. I'm dropping a hotair setup into my 73 Vega and going mustang hunting.