Converting an automatic 74 Swinger to a 4 speed

IMO
NOT rebuilding the upper hoop is a mistake.
Sure, you can do it. and Sure the car will be fine sitting in your driveway.
But what happens when you swap out the slanty T-bars, for 340 bars or 1.03s? and you drive it? Most of the forces that cause the wheel to go up and down, are transferred into the T-bars and from there into the X-memberS. What happens when the bolts holding the X-member slip? and they will.
The factory X-member is a tie-bar to the hoop; together they transfer the T-Bar forces into the Unibody. Neither of them alone is sufficient. If/when your X-member clamping bolts slip, the whole thing will work itself loose, Be flopped around by the T-bars which will tear out the floor, and then bang out the holes. While that is going on, the Z-bar is drooping, and causing departure woes. In what order this will happen, or how long it will take, I cannot say.

As for the supplied X-member, I cannot say either, I haven't seen it.

As for me. I want a hoop there. And I want to raise the tail to factory height to maintain the factory driveshaft angles, for the factory ride height.
If you change the ride-height or change the power input, you have to rework the rear pinion angle. The 6-cylinder rear springs will have to be replaced if you keep the factory-type suspension.
You can ignore this and endure the consequences which are.
Noise, Vibration, Harshness, and broken parts. Not to mention lousy handling.
I was thinking the same thing. I'll just fabricate an upper support (fingers crossed) lol. I have another question. If I have a warmed over 340 that pushes out about 375HP, when selecting a tranny with close or wide ratios, which one would be best suited for my application? I've been told to go with the wide ratio. What do you think? Thanks in advance.