Well, I agree with that sentiment, and would not personally hot rod this car. BUT, since it is YOURS, you should feel completely free to do whatever you want to it, and I have seen some very nice hot rods that might have otherwise gone to the junkyard. That said, though, these cars are really fun to drive just as they came from the factory--it's quite a different sensation from modern cars, as you know, especially if you keep the bias-ply tires on them, as I do. And keeping the mechanical fuel pump (only) is also, let's say, "fun," with modern gasolines. But there are places you can still get ethanol-free fuel, and you can look them up on this website
http://pure-gas.org/.
Good luck with this project, and welcome to our group of KF enthusiasts, and welcome to the club if you have joined (if you haven't, I HIGHLY recommend it).