question concerning a 340 buildup?

Well the car is not purpose built for drag racing, so the first issue I expect it to have is with traction..:colors: But I am concidering of installing caltracks to the rear suspension and possibly later on allso the calvert racing monoleafs with some other modifications to the suspension and chassis.. But mostly I am interested in knowing what could be quite easily achieved with this engine and transmission and the car, if I get the package working well..