'73 Swinger brake drag

Your picture is not a proportioning valve, that is a distribution block. No "proportioning" occurs here only "distributing". The original proportioning valve is located somewhere between that block and the rear end. I agree with#2 in that you should check the M/C for the presence of the residual check rubber which disc brakes should not have.

Yeah actually that’s a factory proportioning valve. You can see one here at DoctorDiff
Mopar 1 Piece Proportioning Valve

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This is the distribution block
Mopar 1 Piece Distribution Block
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