I'm sure there have been and are folks doing it. But you better have an extensive shop to take on a project like that. Old engine and tranny designs were built like the proverbial tank, but in most cases the items were extremely heavy (read less than fuel efficient) and lacked the more modern controls to improve function. Also the old operators tended to run those things till they were pretty worn out, Even if the drive trains were still in reasonably good shape, redesigning everything from front end suspension to steering systems will be a bear to find parts for. You may end up with a heluva conversation piece which you could well be proud of, but I suspect the cost both in money and time would be extensive.
