well it would help to have someone help you that has done it before.
you don't need to drain the oil. but its not a bad idea.
you definitely need to make sure you secure your engine hoist chains properly. the stock 73-87 small blocks usually have a little bracket for a hook mounted at the back of the manifold and sometimes one up front as well. if not you will have to figure out something to make it secure. one chain in the back and one in the front. I always use the passenger side rear intake manifold bolt and the drivers side head has a threaded hole on the front face of the head where the power steering bracket attaches, I use that one
remove your hood
disconnect battery
remove all wiring from starter, carb, alternator, oil sending unit, distributor, water temp
remove alternator
need to remove your fan and shroud. is a good idea to put a piece of plywood infront of your rad so that when you pull your block out you don't accidentl damage your rad
disconnect coolant hoses
remove powersteering pump from block
need to remove ac pump from block
remove vacuum assist brake line from back of carb
remove fuel line that goes from the frame to the mechanical pump mounted on the block
remove carb so the chains don't bang it up
remove distributor
remove exhaust from exhaust manifold. just disconnect at 3 bolt flange both sides
must remove tourqe bars if you have them
remove engine mount bolts sometimes the starter needs to be removed from block to accomplish this
must separate transmission cooler lines from the bracket that holds them to side of the engine oil pan
remove transmission dust shield and remove all bolts holding tourqe conveter to the flex plate and push the tourqe converter back into transmission towards your back axle
undo transmission to block bolts 3 on each side 6 all together
use a floor jack with a small piece of plywood or 2x8 to support the transmission from directly under neath the tranny pan
use hoist to pull up and out. there are 2 alignment dowels between the block and tranny so you need to pull up to get your engine mount cups to disengage and then forward to separate from tranny.
I have probably forgot some thing, but the idea is to remove everything from the block and hang or set away from the block so the block can be pulled up and out.
It is a very good idea to label things with some painters tape if you have not done this before. as you may very well forget where they go when you eventually get back to reinstalling it