A/c on 340 6 pack engine anyone ?

Yup - you about summed it all up... You can run the V2 and just cut the air filter to fit. You'll have to deal with the conversion issue but honestly - it's an old car. Insulate it with modern technology (Dynamat, etc) and it will be adequate and a darn sight better than nothing. You can also install a full throttle cutout switch on the clutch wire so if you go full throttle or depress the clutch pedal the AC clutch disengages.