I have a '71 FJ40 that I am eyeballs deep into redoing. I won't bore you with the details but it turned out to be a disaster in disguise, more on all that in my thread New to the FJ40 Scene.
Here is some info that may help you:
After buying it and a 2F drivetrain with a 4 speed manual and a mechanical overdrive unit, in December I unfortunately had my 6th spine surgery, my 4th in my low back. And, 41 years ago I had surgery on both hips. So, my wife kept pushing me to change my game plan and put an automatic transmission in it because she was worried that all the clutching and shifting, especially when caught in stop & go bumper to bumper traffic it would become so painful to drive that I would not enjoy it. As wive's usually are, I decided she was right. I sold the 2F drivetrain for enough to cover the cost of a Gen 3 5.3 LS + automatic overdrive transmission + a custom made wire harness and ECU flash. I then called to purchase the Advanced Adapters parts I needed to connect the automatic overdrive transmission to my Toyota transfer case. Much to my surprise, they told me if I insisted on it that would sell it to me, but that when I got it up to speed the transfer case would whine so bad and so loud that it would drive me nuts and not be at all enjoyable. But, they told me that if I installed a split transfer case from an FJ60 it holds more gear oil and does not have the whine problem. And buy the crossmember for the FJ60 and cut the ends down to fit. So I bought the Advanced Adapter for the split transfer case, and found that cruisermatt had several good used split cases and I bought one from him. Oh, and I don't know if your '72 is the same as my '71 but my control knob to put the transfer case in 4wd high or 4wd low is mounted to the bottom of the dash from the factory instead of on the floor, and through some linkages it operates a vacuum switch to switch the transfer case. So, cruisermatt sold me a split transfer case that is vacuum actuated so I can use my factory knob on the dash to shift the transfer case, which will by far be easier for me to do instead of leaning and bending over to the floor to shift a short stick.
Also, if you decide to do an LS swap and EPS (Electric Power Steering) like I did, then you will want to delete the power steering pump on your LS or LM7 (truck & Tahoe cast iron block version of the LS) engine. I did some searching and called a company named ICT Billet. They make brackets for anything you can imagine. Below is a link to the correct part number needed to delete the power steering pump and adds a bracket and idler pulley in place of the power steering pump to get more belt wrap around the water pump rather than just removing the power steering pump and putting on a shorter belt (which does not give you as much belt wrap around the water pump and can make the belt slip and can cause your engine to get hot), for a Gen 3 LS (or LM7) found in a Tahoe, Silverado, and so on:
LS Truck OEM Location Alternator Bracket - PS Delete -
LS Truck OEM Location Alternator Bracket - PS Delete - https://www.ictbillet.com/products/ls-truck-oem-location-alternator-bracket-ps-delete?variant=47267501703398
AND, they no longer make the bracket & idler pulley that allowed you to use the original factory serpentine belt, so the belt number that you will need it: k060755
If you get a different LS than a Gen 3 and want to go with electric power steering and delete the power steering pump I would call ICT Billet and they will let you know which bracket & idler pulley you need.
Hope that all helps you or someone else reading.
Oh, 1 other thing, in the thread Best FJ40 Upgrade Ever I noticed that many people said power steering. But, adding traditional power steering was going to be expensive and involve swapping out a bunch of stuff. But then someone posted in that thread about Electric Power Steering (like all modern cars have) and that it was a fraction of the cost of regular power steering. If interested, here is where you can get that setup for a fraction of the cost of EPS kits out there, and it is adjustable so you can set the amount of steering assist to the way you like it:
Straight Electric Power Steering Kit - ePowerSteering - https://epowersteering.com/purchase/product/straight-kit/?v=84de8e2b14bb