Opinions: Fast-ratio manual steering, suspension upgrades

If the car is light and you are in decent shape, the fast ratio will not be a problem. If you cannot open a mayonnaise jar without help, you may benefit from POWER steering!
Look into fast ratio idler and pitman arms for that steering box, that will alter the ratio closer to 16 to 1.
Bilsteins? Great shocks. I have a set of the RCD versions on my 70 Charger along with 1.15 torsion bars and HD leafs. I went with a 1.25" front sway bar and a 3/4" bar. I had a 7/8" rear bar but the car felt loose that way. Oversteer is great if you are a drift guy but since mine is a street car, oversteer can be really dangerous when you are not ready for it.