will punch out or thru the existing mount point - replace with boxed-in unit much like (tho probably not as thick/tall) dazed_driver's rear housings for his rally car;
Thought about an adjustable height spring seat with a separate shock body?
The guy up here with the replica TA64 used to have an MA61 rally car - he kept the spring & shock separate.
If you go single coil/shock unit you might also have to beef up the lower connection point on the swing arm - there will be a lot of force acting on that point.
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