I'd leave it where it is, in fact if i had my rathers, i'd install it at 104* it will definately give you more torque on the bottom end with it advanced.
I think you can make it hook, with the 10.5 tires, probably have too come out at about 4200 rpm on the brake chip with a 5,000 stall converter. I don't know how streetable it will be though. I had a similar setup in a 65 chevelle that weighed 3500 lbs, but a 468" motor. Smaller cam it ran 11.50's @ 117 in Phx. and 11.30's in Bakersfield, foot braking.
Zip.