Yep, a nice single leg burnout can be more impressive to the onlookers ( and still catch the attention of your local police
) and more controllable.
If you go with a TH-350, I suggest a shift kit be installed to firm up the shifting. They usually can be set to different levels of harshness. You don't want the "race" shift as it is slam-bang. The "street-strip" level is what I like. I used a Trans-Go kit in my brother's Mopar. I did not rebuild the trans as that is over my head, but I got all the heavy duty clutches/parts I wanted to use and supplied this along with a used trans for the rebuild. The Trans-Go shift kit allows the trans to shift automatically in "D" or manually by dropping down into "L", shift to "S", then to "D". Summit has them, ebay has them, and all reasonably priced. Pontiac actually did this with the GTO TH-400 with the His&Hers shifter. Put it in "D", or slide the stick over and row through the gear selection manually.
You will also want a new torque converter. I used a converter made by Edge Racing Converter on my brother's Mopar, 360CI street engine with Six-Pack. The converter is rated at 2,400-2,600 true stall, which means this is the stall speed it will rev up to when you slap the throttle to the floor putting your engine in a good power band. However, these converters are built "tight" so they don't slip much under normal driving, like around town, easy throttle, and act like your stock converter. This gives the car excellent manners around town and it does not slip like many racing converters do which cause additional heat in the trans and uses more gas. I watched his tachometer on the car and the RPM change between my foot off the gas pedal and then easing into the gas to accelerate to get the car moving again was a 200 RPM difference -so not a lot of slip before the converter began to respond. They have a converter for the TH-350 for street application for $254.50. I can recommend this because of my experience in purchasing one for my brothers car. He is not the "motorhead," I am, but he loves the driveability of his car and when he snaps the carbs open, it"ll light the tires up with no problem as he shifts it manually thanks to the Trans-go shift kit.
Just a suggestion to look into when you shop around for your replacement trans - whatever you decide to go with.