You mentioned that your dream machine would be a tube T-Bolt replica with a cammer in it. I can't do the cammer, but I can give you some REALLY good direction on the rest of the deal, and offer you an alternative engine as well.
A friend of mine is having your dream car built, although he's filling it with a 600" Kaase BBF that makes 1150hp N/A. It's going to be a small tire drag car and yes, it has a passenger seat.
The funny thing is....he already owns a real T-bolt, along with a real lightweight Galaxie, and a LARGE number of other pieces assembled from original Ford unobtanium. If you ever come to Boston for any reason, we'll get together and you'll get the full deal tour of this guy's stuff. Not many people have seen it, but you bleed blue and this guy totally does. You'll be instant pals. Awesome guy, down to earth, just really successful and a lover of all things Ford.
Withouth further delay, here's a rundown of photos of the car.