I like it!
But seriously, the Studebaker V8 was designed in the late '40s/early '50s and as such has a
lot of cast iron in the block and heads. (That's why it can handle a fair amount of boost via turbos or the newer centrifugal blowers.) So it's heavy......just guessing maybe 150 lbs or more than the Kaiser 226. I would be concerned that the extra weight would have a negative impact on the balanced handling of the Kaiser.
As much as I hate to say it, a Chevy smallblock would probably be a much better balanced, easier, and cheaper swap.