Agreed, but superlite asked for an opinion and I gave one.
You can do whatever you want to your Willys, I'm not saying you can't. I would put a 5.7 in it if it were mine. What I am saying is that if you're going for a certain look from a certain period, then you should stay with a vehicle from that period. Most vehicles will not look right IN MY OPINION if you try to backdate them.
On the other hand, I also think that taking an older vehicle and putting a modern drivetrain, suspension, etc. is very cool and looks awesome when its done right.