exracer....I realize this thread is a few months old, but I was in the same situation, wanting a short wheelbase FED like might have been common in lower classes when I was in my teens and early 20's. I was considering even a bit shorter (125" to 130") than you mentioned. So far, I've made no start on building, but did buy the S&W FED plans. They are very well done! Before I bought them I called and asked if the plans could be used with modification to build a shorter wheelbase car and the answer was yes.
I'm somewhat in the same situation as you, but I'm 68 years old. I had a fabrication business and a pretty well equipped shop and agree with one of the earlier posts that mentioned building would be a huge part of the fun.
What I had, and still have, in mind would even be milder than what you have since my plan was to use a stock but freshly rebuilt 350 I have. The only modification from stock is a very mild cam.
For me, building a FED is a on-again, off-again thought since I'm currently working on a '30 Model A coupe hot rod. My delima is that I have a desire to build another hot rod after the current one and already have a lot of the parts, but I still think about a FED on a regular basis. If I live to be 100 and stay in my current state of health (which are both HIGHLY unlikely) I would likely never build everything I dream about.
BTW....your locations just says "Midwest". Where are you from? I'm in Southeast Missouri.
No matter what you decide, best wishes, happy retirement and stay healthy!
Lynn