First without the torque converter there is no way to provide fluid pressure for the shifting. Then there would be the issue with loss of torque multiplication without the converter. Then somehow there needs to be a clutch pedal to operate the clutch...
You could always go the other way around and go with a SMG trans, where there there is a computer that drives the solenoids and hydraulic valves...
ie SMG for the BMWs
Still, either way, kind of expensive to be putting so much money in a old car.
Oh and yes clutches have been put into automatic trans in place of the torque converter, they were used to some success in drag racing in the late 60s
http://ggordon528.tripod.com/shop/cpe/clutchflite.html
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