Firstly, welcome! Looks like a fun car you gotcha there....
I don't think you need to worry much about purists here. Most of us know that there's plenty of 140s to go around, so if you want to stick a V8 in one, hats off.
As for the steering though... that's beyond my know how. But it sure seems a lot of folks doing conversions (granted, on other types of cars) use that Mustang II unit.. I don't know if it would work in the Volvo or not
But you already know that.
Keep us posted as to how it goes, and stick around the board... Folks frequently asking advice about drivetrain replacements.. you could be of help in that regard.
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-Matt '70 145s, '65 1800s, '66 122s wagon, others inc. '53 XK120 FHC
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