Chuck,
The conversion is not as bad as I made it sound. The biggest thing is having access to a mig welder and a jig saw to do the changeover. Since you are looking at getting a whole parts car, you will have everything you need to do the conversion, so I recommend going that way. You will be happier with the result when you are done.
I dug out the 401 AC/alt bracket I have tonight to make sure I knew where it was. Will look and see if I have the double pulley setup you need for the compressor.