Don, nice looking car.
Having run a 53' Studebaker on the Salt for sixteen years, I recommend you call Bob Stroud and order two complete chutes with 30' tag lines.
You will find that using smaller chutes and pulling one at a time is a lot easier at the hit and the car will not "get squirmy". The second chute will not be needed except in a emergency or you start running about 220 or so.
You need to mount your tag lines higher (about camshaft center line high) or it will jerk the rear wheels up and you will be in for a thrill (trust me on this one).
I would post a picture of my mount but am too stupid to figure out how. Suffice to say that moving it up from bumper height to camshaft high has made it a dream compared to before.
NEVER use your brakes until you are slowed down enough to turn off the course. You will burn them up and ruin the rotors if you hit them at 200+ mph.
DO NOT buy a Drag Race Parachute as they do not have a long enough tag line.
If you buy them from Bob Stroud, make sure to mention that you want the extra large chute packs because once you have drug them across the Salt they seem to "grow" when you try to repack them. He makes bags slightly deeper for you if you ask.
Bob is a mechanical Engineer so speak to Him directly before you order.
You will need to run the car at about 4200 to 5000 lbs (roughly 50/50 front to rear ballast) up to 200 mph, and at least 5,000 lbs above that.
I run my car at 5.200 lbs currently (238 mph) and I may add a couple hundred more. Make sure you bring extra weight and have mounts pre installed that are easy to add weight or remove weight as necessary at the track.
Every car drives and handles differently so be prepared to add or subtract weight at any time.
ALL BALLAST SHOULD BE BETWEEN THE FRONT AND REAR AXLES AND MOUNTED AS LOW AS POSSIBLE.
Good Luck
"One Run" Bob Drury
Old Stud Racing
# 394 A/CFALT