FNG with tons of questions

Welcome! and as a Vet... Thank you very much!

Sounds like a nice street-able combination. Fairly mild, with a bit of a large carb for the cam. Probably a 600-650 would be plenty.
I like your manifold choice, I think people don't realize what it really is, and pass it up.

Since the price on the head is for each one, the pair is going to be a bit over $900.00. They are good heads, if you want to stay cast iron. For about $100.00 more, Edelbrock has a new set of "E-Street" heads, which compete against the garbage Patriot heads (and others) coming over from China.
http://www.summitracing.com/parts/EDL-5025/
If you are interested in reducing some more weight, and a bit more "bling" factor, this may be a nice way to go.
I'd guess with a good build and a 6K redline, this should be about 300-320HP through a T-5. So you are well within the ratings of what the T-5 can handle.
Since torque and horse power are directly related, a "stroker" (which normally includes a bore job) increases torque, and horse power.
But, you will need more head and cam to support it. So the cost goes up seemingly exponentially. And that's before you get to the chassis, and transmission mods for durability.
Personally, I like the way you are going. Plenty of room to grow, without spending a bunch on stuff you'll swap out later.

Good luck on your build,

Welcome!

For what it is worth...

I ran your combo through a dyno simulator; I had to guess at your compression ratio and I chose 9:1. I also specified small tube headers and open exhaust, so the numbers generated should be a bit on the optimistic side.

The simulation showed about 320 Flywheel HP, and about 400 Flywheel ft/lbs of torque.

If modeled with stock manifolds and full exhaust it dropped to about 270 HP and 350 ft/lbs at the flywheel.

In either case the engine was all in by 4500 RPM and dropped off quickly after that.

You can expect about 15% additional loss through your transmission...

Of course you can always throw money after power; keeping in mind your tight budget I have the following comments/concerns:

1) Carb too big; will soften throttle response. (I agree w/ 650 CFM)
2) Cam too small (I'd look for duration @ 0.050 of 215-225). Nothing too wild, but a bump up from the current selection.)
3) What are you going to do about exhaust?

I would not bother stroking it unless you are doing a total rebuild and need to buy pistons, recondition rods, and turn the crank... in which case the incremental cost of stroking is fairly small.

Good luck and thanks for all you do.

-Rory

First let me say, thanks again. As someone with limited knowlege (as in i can for the most part name what i see in front of my, knowing little of the specifics of what it does) all this advice is im sure saving me oodles of cash, and time.

However, i was wanting to do a little better than that. It seems everyone agrees that the manifold is a good call. So that i will not change. I know im asking alot, but i was hoping to finance a way to be somewhere over 300 hp at the wheels. Basically what i did for this kit, was take the edelbrock power pack (the "bargian" kit), and match it with some cheaper gear with close numbers. If someone out there has the time to RECCOMEND some items for purchse, or could tell me what i have to do to get in the low to mid 300 range, i sure would appreciate it. Im sure some of you have some tried and true tricks and suggestions, and im open to all.

As far as the rest of the car, i was looking at using the rear thats in it (8" from a maverick), and having the local speed shop install a posi unit for me. I was thinking a set of 3.73 gears. Suspention, i have no idea what im doing there yet either. This is the intention of the car currently.

T-5 mentioned above

351w - Hopefully about the low 300 range ( and i was hoping for at the wheels.. if i need a bump in the budget, let me know how to do it on the cheap. This isnt something i want to keep ripping apart every year or two heh.)

Subframe connectors - I was told that the V6 was set up a little weaker than the V8. Never hurts to solid up an investment was my call on this one.

8" rear (installed)- install 3.73 rear upgrade
I do have a neighbor who i called who is doing a ford resto project of his own, and i believe he told me that he has a 9" rear he is gonna get rid of. I dont know what its from, but its definitely something to look into.

Then some asthetic stuff. The car has a few things that needs a ban-aid. Pass fender needs to be swapped, Hood, Front bumper, and one headlight bucket. They are not TERRIBLE and i can totally deal with it for now, but i was hoping to spend the winter getting this all together.

Anything you folks have in your head to throw out.. things that you should have done on your first build, anything looking back in hind sight that you wish you would have done, feel FREE to throw it out. My budget is flexable, and i would rather spend a little more and get what i want, than to spend twice if at all possible. However, i am cost concious. If i wasnt id just call TrickFlow haha.

Thanks again

*EDIT* I wanted to add the cardomain site i got when i purchased the car. Everything listed there is by the previous owner. http://www.cardomain.com/ride/2449869

A couple more comments....

To get 300 HP to the wheels, you will need at least 350 HP at the crank. In you combo above, the heads are holding you back (as well as the cam). Below is a link to Mustang Steve's 400 HP 351W build; however note the cost to build this - power = money. Additionally I would probably substitute a comp cam for the crane and AFR 185s for the Edelbrocks...

The Edelbrock power package numbers seem to be regarded as optimistic by many, and the Edelbrock cams are viewed as old technology. Comp cams has much more aggressive ramp rates that yield better power.

351W build recipe

This would get you about 340 at the wheels.

The early V6 cars used 4 lug wheels and lighter suspension parts... but the actual bodies were no different. Subframes are a great idea for any Mustang; V6 or V8.

The 8 inch rear should be fine as long as you don't hook up; if you run slicks or very sticky tires it may not hold up.

Good luck and keep safe in the home stretch!
-Rory

Might want to keep your eyes open on the 5.0 Mustang classified forums. Every now and then, I'll see a set of 185 AFR or TF heads for a good price ($1k to $1,200). If you are considering a stroker down the road, step up now and get 225s.
185s, with a more agressive cam will put you in the mid 300s with good driveability, and decent mileage running a 600-650CFM carb, good headers and exhaust.
With a turbo or supercharger, down the road they can take you into the 500HP range with some porting. After that you'll need more "breathing" room (and a better transmission).

As for suspension, I didn't see anywhere on the cardomain site where the suspension components were replaced. I'd have the suspension , and frame inspected first. When the radiator was pushed into the engine, it bent the radiator support, which most likely twisted the rails. Not a big deal. They can straighten any damage at a frame shop. But that needs to be done first, or the car will never drive right.
Then make a plan of what needs upgraded / replaced.

A front disc brake swap would be a big improvement. That will require changing the master cylinder as well. Some of the kits are under $700.00, and offer good stopping for a street/strip car.

Plenty of time to window shop, and peruse the used parts market. Your plan is solid, so stick with it, and be patient. The car will come out awesome.

Scott