On the overheating problem, I refer you to a previous post of mine from the Arizona Cobras forum:
To steam or not to steam, that is the question...
My car, with the stroker S/O, aluminum Edelbrock heads, Crane cam and dual 600 cfm Holleys, idles just fine, thank you. Starting is easy, even with the chokes removed from both carbs. Key it, let the electric fuel pump fill up the float bowls, pump it twice and it starts on the second revolution. I usually have to play with it for about 30 seconds, but then it settles down to a 900 rpm idle. This procedure works in temps from 110 down to 40.
Drivability is no problem, unless I get caught in l-o-o-n-n-g traffic stops; then the plugs will start to foul up. Other than that, the only real problem is the noise from the sidepipes.
Traction is always an issue when running the kind of torque these cars have. When you start pushing 500+ ft-lbs to the pavement under a 2500 lb car sitting on street tires, traction control becomes a concern. Judicial application of the go-pedal and attendance at a driving course will help alleviate the attendant problems.