With a car that original and in that kind of condition -- I would keep it original but hey man, it's your ride so if you want to go all Jay Leno on it and put in a 502 I'm not going to make a fuss! lol
Wyoming is awesome in the summer but you need butane powered underwear to keep your cheerfull demeanor in the winter. It's dry as all get out though which is part of why that old gal looks so sweet.