Steve:
HMMMM...... 500707 is a correct number for a 160.
Yes, the front doors are interchangeable between a 120 and 160.
Finding the thermostatically controlled grille louvers, a proper radiator and mechanism would take some effort, but it would be a bolt-on item.
Here are some comparables for you to review:
1940 120 convertible sedan for $63,250
http://www.rmauctions.com/lots/lot.cfm?lot_id=1064753 1940 160 convertible sedan for ????
http://www.tomlaferriere.com/1940_Packard_super_eight_convertible_sedan_160_for_sale.htm This car APPEARS to have an original interior - notice the stitching around the door handles/ window cranks. Also notice the radiator with the thermostatic control. BTW, the radio antenna base is from a 1941- the 1940 was somewhat different.
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