According to values on craigslist.com, the value of early Celicas is going up significantly.
Mechanical parts can be replace or upgraded easily.
Interior trim can be remade.
But rust is a problem.
Nobody makes replacement body panels so a panel beater will have to fix the old ones.
Decide whether you want to restore it for yourself (ie, you love early Celicas) or if you want to sell it to a Celica lover.
The Chev 440 will be too big for an easy fit and the weight will kill the handling.
Any 8R or 18R will be a drop in replacement.
So is the twincam 18R-G if you can find one.
The 20R or 22R are also easy fits with a very minor amount of work.
These cars are so light that a mildly worked 120-140HP engine can work really well.
The back window isn't made new any more.
Maybe toyheadauto.com has one or you could find a wreck.
I think I know where one is but I'd have to look up where he lives.
Or the guys at
http://autos.groups.yahoo.com/group/classic-celica/ might have one.
- Stepho