Originally posted by InitialD
You need the following parts;
808150 Bodymount-set rear GTP EV2
808121 Bumper Set 705 CanAm / Group C
You will need to trim the excess bumper's width according to the Lola body used. With the 808150 Impact floating rear body mount style, you cannot use the 7 mm spacers (808313) on the upper rear hubs. You can substitute different size spacers but in my experience, a 2.5 to 3 mm spacer is the max you can go with the 808150 body mount. For the shock tower, you may not use the stock rear of even the front one. If you want to use a rear shock tower, you can use the 808138 shock tower meant for the Impact. Else, you can also use without shock towers and mount the rear and front shocks on the bearing blocks. Incidently, this is what I run (and what a lot of others run this too) on my 705 with red springs all around.
Before this 808121 came out, we were using the 808120 Impact bumper. I felt this bumper was better and toughter as the body mounts on the 808121 (integrated onto the bumper) breaks easy. With the 808120 Impact bumper, you need to modify and trim the nose of the upper body mount bumper plate 801115.
I have attached a top view sample pic of my Impulse PRO (now already 90% converted to a 705
) with the 808120 Impact bumper to give you an idea about the 801115 upper body mount bumper plate.
Using Lola body on the 705 does have it's advantages in the cornering speed and stability. Engine cooling is also better. But that is the least that you would be interested in doing to your car because the faster you go, the more parts you break ! 
Best for you right now is to use the stock TC body. The foam bumper on the TC shell will be easy on the chassis and will provide enough protection to the shocks.
Observe on the track how the others are driving at your track. Watch how the good drivers are taking the correct and fastest lines in the corners and the bends. Then on your own, TRY to go easy on the throttle and slowly round the track without hitting anything. Drive as many times around the track as you can. The thing is to get a lot of track time. That should be your primary goal. Never mind about people saying you're slow on the track. Somebody has got to start somewhere. I did the same thing too.
For me, I find no difference in the challenge using TC body and Lola body. Some of the cars on the track where I race use Lola bodies too and I would humbly say that it does not make me at a disadvantage using a TC body anymore on the track once you can master the car setup. Of course, the person behind the Tx must be up to it too ! 
Yes, I do notice this too... Of course only when I clip the front wheels hard enough. I guess if you look the other way around, if the pivot balls do not pop out, you may end up breaking the steering knuckles or worst still, breaking the aluminum pivot balls. So, I would say leave it as it is. The only solution to this is to drive carefully and slowly first around the track and avoid clipping and hitting the steering blocks hard. Like I said, drive slowly and get familiar with driving the car around the track.
The rear tower 808138 in not optional. It is needed as it holds the pin that keep the rear body support in place. I don't know the 808139, it is not in mytsn.