Between the 40 year old seam sealer, paint, rust and tin can like metal thickness learning to weld on a car is probably not the best place to start . I imagine the engineers that designed these chassis would probably faint if they saw what some of you guys are putting their babies through!
I used 1.5x2.5x11ga tube to replace the 'frame rails' from the t/c buckets to the rear sub and clad the rockers with 16ga and I was worried about excessive flex and I only plan on putting around town, probably with a test and tune night at IRP here or there. Its comforting to hear that you have put your car through a fair amount abuse and are just starting to have problems.
I'm surprised Matt hasen't suggested going turbo so you could launch easier and catch 'em on the big end!