Looks like you have a nice project! I have a '39 Plymouth coupe, with relatively stock independent front suspension. I rebuilt the entire thing, relocated the upper shock mount to the frame, and swapped the front coil springs to Ford Aerostar springs (Moog CC850). I also plan on putting on a different front sway bar, probably from a Jeep. I can honestly say that the stock rebuilt front suspension drives nice. I'm more than happy the way it drives and handles since all i do is cruise around town looking cool. Depending on your plans for the car, i'd recommend sticking with what is there. Now if you want to put a real hopped up V8 and go racing you'll likely need to do a front suspension swap. It's all a matter of what you're trying to get out of the old girl.
-Chris