It is not a waste of time. It is a useful upgrade and offers improvement over the straight stock setup for alot less than some of the aftermarket bolt in tubular setups. If you need new arms and don't feel like doing the work yourself you can buy them like this from opentrackerracingproducts.com
Boxed arms aren't as strong as tubular stuff, but they're far less expensive and still reasonably light. Boxing in the arms is definately a worthwhile invest ment of time and money, or like dodgestang said, you could buy them that way. Boxed control arms are enough for most people, and unless you're really wanting a badass suspension setup on a restomod they'll do very well. If you wanted to get really fancy you could cut gussets that you could insert at angles inside the arm and weld those in and then box it, the arm would be stiff as hell.
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Who cares how much horsepower it has, all that matters is how fast it goes!
Best run 13.23 at 106.97mph with a 2.183 60' Times from before tune and driver mod.