Wow...sounds like your jumping right in! It might be helpful to read up a little before going to far....it could save you money and headaches down the road. Wayne has an excellent book that I would encourage you to read from cover to cover (it's sold on this site and at bookstores).....One of the topics covered is the use of a stand....I would not use a traditional stand w/out the adapter collar/ring. They are $150 bucks and bolt to a standard stand or you could buy the entire engine yolk... Best of luck to you...ask many questions
