If you want to run the ecu to control the spark you will need the electronic dizzy and the ignition module and what ever else it uses but you can do it old school and change that later if you wanted. So yeah go and grab a V8 K frame on the cheap of from a VB-C-H-K-L

and see what happens. Can you find out if the gearbox has the turbo gearbox mounts or is it the trimatic/aussie 4 speed bolt pattern (will be better if you can bolt the T700 up without an adapter). Theres a non registered VN here with a old 308 in it (running petrol) non ecu style, built just for burnout comps and it's a beast
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VP
executive-R 0-60mph
5.36 11/10/07, PB ET 9.088 1/8th mile at Southcoast raceway 5-12-2008
VN Lexcen GL 0-60mph 6.95. 1/4 mile 15.37 @ 91 mph: calculated rwkw 114
VH SL/E 202 Auto 0-60mph 13.5
Traction provided by
Highway Max™ tyres