Everything you need to rebuild the original suspension is available and not that expensive. It's a pretty beefy suspension, as good or better than a clip IMHO, without the work. Get a front shock relocation bracket from OldDaddy as well.
The chassis is pretty beefy as well, so you'll never run into any issues there that would require a frame swap.
I rebuilt mine on my 49 Chrysler a while ago. Easy and looks good, if you like, there are brackets available for Rack and Pinion and a couple of threads here on the installation of a kit bracket and a homemade bracket.
Before
After