Done it that way too...takes longer getting it all out, but you can recondition the steering components and put it all back in at once...LOL

Patrick made a dolly for doing just that. It supports the K frame and trans crossmember. Engine and trans come out in one piece.

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Before loosening the 4 hood mounting bolts, I drilled two 1/8 inch holes through the hood mounting bracket and hood (in an inconspicuous location) on each side.

Then during hood installation, I just shoved some drill bits into the holes as alignment keys and tightened the bolts. Perfect hood alignment (well... as good as it was when I started).

Whatever tricks you use, It will be worth having the hood out of your way.