I think it looks great!
Apparently you and I are on a similar path.
Mine resides on its side in my living room so I can visualize the underpinnings that I intend to modify.
One note of caution though. You will need overly stiff front springs to keep from bottoming out if you decide to take on a passenger, as with the height of the tires that you have selected that fill the wheel wells so nicely, you will only have about 2" of vertical wheel travel available.
When considering the only 195 lb weight of the original car, you would likely be increasing your sprung weight by a factor of 2 and a half or more, so your wheel travel may be used up with 2 aboard even before you hit a bump.
I have 6" aircraft wheels, and pretty stiff springs, but haven't selected tires yet or fully created and assembled my suspension, so I can only ask if anyone else can chime in with suggestions that hopefully will come close to the look that you have photoshopped, and not bottom out under normal driving conditions.
Yes I do realize that they came with inexplicably knobby tires on only 5" wheels when new.