1967 transmission dylema

the T5 swap is pretty straight forward. in your case you will need to find either a complete kit that includes a bell housing, as well as the proper adapter plate, 9" flywheel, clutch components, etc. check with modern drivelines they should have everything you need. contact www.moderdriveline.com for more information.

that will depend on which T5 you choose. get the V8 T5 and you should be good to go.

I have heard people say that the I6 is much more fun with a T5 backing it(no surprise there, its a lot easier to get a gear that suits the torque band better). In addition to being more fun to drive, you will also get significantly better mileage...some people claim up to 30mpg on the 200CI I6

P.S. As rbohm mentioned, the choice of T5 will affect the final result. The most important thing is to make sure you get a WC version....but the 4 cylinder T5(WC or not)has a shorter 1st gear....which might be fun for burnouts, but isn't particularly useful over about 20mph or so. So be sure to research gear ratios that are appropriate to your goals.