Am i crazy or am i on to something here?

You can do that.
OR you can put an air gap intake on and a carb. I guess you have to put an la distributor in, and probably an electric fuel pump.
If running a manual trans I think you need a magnum flywheel. Put a timing chain or chain tensioner while it's out and just run it if it checks out.
I haven't done the carb swap, but I put a 5.9 in my jeep. Went through all the wiring nightmares. For what they cost it's a great bang for the buck. If it's interesting to you just do some more homework on a magnum swap.