65 Barracuda Fromula S - what to do
Fix the LCA, Fender, and what ever it needs to go straight. Drive it and keep upgrading as you go and preserving what is good. Unless you have a budget to invest all at once. I've been doing that with my Valiant for 14 years and enjoyed every minute of it. As far as the B&T, they work good and shortening the driveshaft will be cheaper then Imperial Services cable shift adapter kit.
Cosgig, 65 was a transistion year. The early 65's had B&T's and went to slip when the stock ran out.