In Nova circles, the 62-5s are 1st Gen, the 66-7s are 2nd Gen, the 68-74s are 3rd Gen, and the 75-79s are 4th Gen. The 73-74 cars really get pushed into no-man's land, but the suspension and drivetrain is more similar to the 68-72s than it is to the 75-79s, so most Nova folks put the 73-74s in the third gen category. You may want to check out Steves Nova Site. Lots of Nova freaks (and good guys) over there that can really help point you in the right direction.
For my part, I'm putting the finishing touches on my 77 pro touring project right now, and would be happy to lend you any advice that you want. I would LOVE to see some more guys go the pro-touring route with these cars - they are excellent platforms to work with. What you have heard about the 70-81 Camaro front suspension is accurate. Virtually all of that stuff will bolt right on to a 75-79 Nova with no modifications. You have to be a little more creative with the rear suspension, but there are some options available to you on that end of things as well. Just make sure you get a car with good sheet metal - not all of the sheet metal parts are available in the aftermarket yet, though some stuff can still be had on ebay for a reasonable price.
Clearly, my vote is for you to pick up a 75-79 with a good body and go crazy. There are literally hundreds of third gen Nova pro-touring projects out there in various phases of construction. I am only aware of less than ten 75-79 projects out there that are "pro-touring" based. I don't know of any that are on the road yet. That means you will be unique, if that matters to you.
My car should be road-worthy by early spring 09. I've already fought most of the battles yet ahead of you if you go the 75-79 route, so let me know if you have questions.
Best of Luck,
J
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