You don't have to weld the axle flanges, you can just drill the 4.50 pattern offset from the 4.00 pattern. I did not like having to drill the small 10 x 1 3/4 drums when I wanted to replace them. I also don't like lug nuts centering the wheel instead of the hub. As for wheels, the 15 x 7.00 rallyes fit. I had a set of custom 15 x 6.00 MiniLites made for the 66 Formula S. Should get them on in a couple of weeks. You could probably add a power booster to the 65 and turn the drums with good shoes... Just thinking out loud.
abodyjoe is right on about the BBP 7 1/4.