Suspension ideas for a big block '68, ~RACE CAR ONLY~

Hey guys, just figured I would toss this question out there, when i don't have a lot to do I like to sit down and kind of plan out where Im going with my '68, and for the record it is JUST a race car, BUT something that if I wanted to could bolt up some exhaust to and street tires and drive on the street once in a blue moon, but anyways I am making the switch to a 454/Turbo 400/12 Bolt ASAP to replace my current combo of a 350/Turbo 350/10 bolt set-up, my goal for this car is LOW 11's, something that with a little "tweaking" could pull maybe a 10.80 or so before they kick me out And I have a pretty good idea where Im going with the drivetrain, interior and exterior, but the suspension area has me a little in the fog. A lot of guys have told me that stock Chevelle suspensions actually work pretty good, up to a certain point, either way it needs to be rebuilt before I can really hit it hard, but any tips, tricks or ideas, upgrades that are worth it while I've got it apart? I'm going to be running 4.5" tires up front and 12" Hoosier's in the back, and last but not least brakes...right now the car has manual drums on all four corners, do you think they would be okay for racing? Or should I upgrade to discs? Thank You guys very, very much, you're helping me to keep the legend alive and kicking a** at the track!
Jim