wow wow wow wow wow...

Your dad is doing almost exactly what I was intending to do with a 70 Mustang Fastback - C5 (or 6) suspension with stock mounting configuration, rear trans for weight distribution, shell of a body over full tube chassis, obviously non-Chevy engine with clutch up front adapted with custom torque tube, etc etc. Only difference is I would have lightweight 18s all around and thinner wall chromoly for road racing and that is it and this is the only other time I have ever seen a build so close to what I am expecting to do.
Definitely a cool build - I can't wait to see the full solution for how to mate the Mopar clutch setup to a custom tube to the Corvette rear diff/transaxle setup. It looks like he is going down a similar path to what I had envisioned with a support bearing at the flange and so forth, but I haven't really sat down to reason that out completely.

Best of luck, can't wait to follow along.
edit - oh yeah, your Dad has some amazing welding skills too judging from the '33. Very nice and clearly a meticulous dude! I am meticulous, I just ain't near that good hahah.