1965 Barracuda Road Racer Project

I recently bought a '65 Barracuda for $100 and have decided that I'd like to build it into a well handling road racer. It is a complete (rough) body, everything but the engine is there. The 273 block is rusted badly, and I'm thinking it probably isn't worth even trying to save. Now here's where it gets interesting- due to two main factors, I'm considering a Chevy 350 swap. These two reasons are 1) I'm a broke High School student and all I have access to is SBC after SBC (and one Oldsmobile powertrain), and 2) Coming from a GM family, that's all I have and what I am most knowledgeable on. Now I understand that MOPAR enthusiasts are perhaps the strongest purists of the bunch, but this is the only option I presently have. Has this been done before? And what will I want to do to improve handling and such? Thank you guys very much, I apologize profusely for my ignorance and "blasphemy" haha!