do it!! one thing to watch out for is damage to torque boxes and front frame rails, Make sure you take a close look at the tq boxes to make sure tere are no cracks, etc.
And pay close attention to the front frame rails right under the strut towers, I see them rot there all the time and they usually start rotting from the inside.
For example my buddy bought a pretty clean 87 vert GT all stock a while back, everything looked mint, a few months later we pulled the motor and the front rails crumbled apart when we tapped them with a hammer
and you dont have to do fuel injection....I know quite a few people with carb'd daily drivers