Ok Guys New Plan!!!!!!

I have found a 351W out of a 1971 F-100, the guy wants $80 and I've seen the engine perform.....But.....It started to knock not long before we pulled it and I don't know if it's even a good idea.....plus.....Wouldn't I need like a C-4 Tranny?(or will the metric bolt up if I get a new bell housing?) The rebuild kit costs $235 WHAT SHOULD I DO??????

What is this going in?

1993 Ford Thunderbird LX