These four came immediately to mind. I'm sure others will chirp in with the best way to spend your money.

Arning "Shelby" drop
1-piece export brace
Monte Carlo bar
Z-Ray crossmember

John

 

I have done the mods above with exception of the Arning Drop on my 67 coupe.

I would also add sending your distributor to Dan at Mustang Barn for a recurve.

Drum brakes are fine for weekend cruisers as long the brakes are adjusted properly and use quality brake shoes, like Porterfield. Dual bowl master cylinder is a must.

I upgraded the ignition to electronic DuraSpark 2 system. Very cost effective. Pertronix 2 module would be a good option too.

 

In addition to those mods, I'd aim for reliability as the main goal. I'd use parts that you can get at a local parts store and not have to order online.

 

I am sure there will be many opinions here is my 2 cents. If it is just a cruiser I would say for safety make sure you get a dual bowl master cylinder, front disc brakes, and make sure the fuel line is a hard line, and not a flexible hose that can crack and spray gasoline on a hot engine.

 

If you don't already have the 289 - I recommend a 5.0 from a 1996-2000 Explorer. Roller cam and pretty good heads. Can still be bought complete in the $400-600 range, depending on where you live and a little luck. You can finish it out with 289-type stuff and nobody will be the wiser.

 

I like this idea but would stick with the earlier GT40 non P heads which is something like 96-98. The later 99-01 GT40P heads have an odd spark plug angle.

 

My list of things to do in no particular order, and taken with a grain of salt:

The Arning drop is labor only and IMHO should be done on every Mustang.
Export brace, again should be on every Mustang
Z-Ray crossmember
At a minimum, manual front disc brakes with appropriate dual bowl master and proper distribution block
Electronic ignition
Headlight relay wiring harness coupled with red led bulbs in the tail lights (see and be seen)
3G alternator upgrade
Roller spring perches
15/16 front anti sway bar

I agree with Pollock, skip the 289 for a modern roller 5.0.

 

Retrosound radio.

 

To go with that - kick panels with speakers. Bang for the buck and for the miniscule time spent.

 

All those good things, and a modern wide-ratio OD transmission (T-5, 4R70W, etc). Expands the enjoyment more than you'd expect, and many have said the best single mod they've done to their Fords. Definitely near the top of the list, IMO. With careful shopping, I did my whole swap under $1000 with a good used take-out with lots of life left. It can often save costs of rear-gear changes too.

 

Of the car has been sitting 30 years and you are already going v8 swap.

• new fuel tank, blow out metal line and change all rubber piece
• make suspension match v8, springs, new shocks etc
• replace all rubber bushing or buy new suspension arms / ball joints etc
• don’t know if it’s manual steering / brake or drum disk etc but there are upgrades there!!
• aluminum intake and aluminum heads if you can afford them
• phenolic carb spacer with aluminum intake to prevent fuel percolation

During engine rebuild make sure you don’t get “rebuilder” pistons. They are 1.585 compression height and will drastically reduce compression ration.
- what transmission do ya have?

 

Summit M2008VS carburetor

Good shocks

Porterfield or EBC brake pads (new cheap pads don't have as much friction as the original asbestos ones did!)

Proper wheel alignment for modern radial tires, with a lot more caster

1" front swaybar

 

Thanks for all the responses. Some of these I've heard about but not all. I'm debating on the transmission. The car started out with a manual and someone converted it to automatic C4. I have a toploader 4-speed but not sure I want to go that route. I'm leaning more toward an AOD. I definitely plan to go with front KH style disc brakes in front and leave the drums with upgraded shoes in the rear. I actually have 2 289s. One came with the car and the other is out of a parts car I had bought many years ago. I know I will need to completely re-wire the car. Does anyone have experience with the aftermarket instrument clusters?

 

While you may find a few people that like AOD (and the overdrive IS nice), it was a heap right from day 1. It steals almost as much power as a C6, has miserable shift quality, gets confused easily, and if you do full throttle shifts into 3 and 4, you will damage it. Especially if your engine has performance upgrades. Add to all that the troublesome TV cable, which - if misadjusted - will burn up the transmission in less than a mile, and it just isn't worth the fuss to me.

Its descendants, the AOD-E and even better 4R70W are good transmissions, and don't share its mechanical torque converter lockup with 2-piece input shaft.

You can make an AOD good, but by the time you spend the money and time doing that, you could've had a still-better 4R70W right from the start for a lot less money including the controller for it.

KH brakes are a great call, especially if you want to run 14 or 15" wheels!

 

1) A new windshield works WONDERS.
2) Make sure your wipers, horn and safety belts are in excellent to new working condition.
3) Shelby / Arning drop WITH the appropriate street specs alignment.
4) replace all bushings with poly or delryn except the strut rods (stay rubber or hybrid there for safety) and consider solid adjustable strut rods, roller front spring perches, spend as much as you want on virtually any shocks except KYB Gas-a-just
5) rebuilt steering box by Chockostang or The Mustang Barn, the four-turn/16:1 ratio variety is best, especially if you have or ever plan to have power steerjng, and the OE style PS system still offers the most bang for the buck
6) new halogen headlamps at the least, better with a relay system, and even better in my humble opinion replaced with glass globes and a 3500k-ish color LED bulb makes night driving SO much better ... Sylvania 1157-R red LED tail light bulbs ($20 pair at WM or AZone) or an equivalent of your choice improves rear visibility by others remarkably over old incandescent bulbs.
7) OE-style front disc brakes that replicate the Kelsey-Hayes system are available in very affordable kits from multiple suppliers and is easily one of the best conversions I have done to all the Mustangs I've owned and driven for safety and ease of maintenance with superb perforamance.

If you're going to rebuild your 289 or a 302 rather than replace with a later 5.0, don't cut corners on parts. There is a recipe for an affordable approx 300-horse 289 repeated on here several times that doesn't break the bank but will be a reliable mill for a long time while providing plenty of giddy-up.

ENJOY !!!

 

What upgrades should I be looking at to have a reliable, safe and enjoyable cruiser?

Nothing. I daily drove my '67 for something like 5 years. The cars are already reliable, safe, and enjoyable. I don't recommend changing anything unless you have a specific goal in mind. Most "upgrades" are nothing of the sort.

 

Alo6 of great suggestions here. Don’t go cheap on the shocks. They have the biggest impact on the way the car feels.

i like to use proven sets of parts that match and complement each other.

This is my go to package for most cruisers.

1. Open Tracker Street suspension level. Street Performance Full Suspension Kit with Bilstein Street Shocks – Level 1 (V8 1965-1966) – Opentracker Racing

2. Original K/H disk brakes with dual M/C from @CHOCK or your fav supplier

3. Quick Steering box rebuilt by Chock

4. Heavy Duty Export brace

5. Arning drop

6. Monte Carlo bar

7. Align,ent to Open Tracker specs

8. Porterfield or EBC brake pads.

9. @zray lower brace

This will give you a safe, fun to drive car you can drive anywhere without breaking the bank on crazy exotic stuff.

Other improvements include LED lighting especially the tailights. @gtonavy makes the best you can buy. Not cheap but super bright and reliable

 

CURVED monte carlo bar.


Just here to cause a ruckus 😛

 

Wouldn't an original 65 6 cyl car have the 7.25 rear rather than an 8 inch? Unless it's already been changed that might be an important change.

I'd agree with all the above proposed mods, especially going with a 5.0 over a 289.

 

Yes he will need to change the rear. But that is more of an essential part of the V8 upgrade than a best bang for the buck improvement.

 

In addition to all the other good advice:
If you have a toploader, install the thing, it will transform the car into something that brings twice as many smiles. Otherwise, I'm one who says that the 5-speed was the most transformative of all my changes. Next was a complete suspension (Global West) w/ modern alignment specs.
Just triple check that everything works, especially the brakes and fuel system. If you replace the gas tank, consider one with more capacity.
Oh, if you haven't already, get a real factory Ford Service Manual and Electrical Assembly Manual. I got mine from National Parts Depot, but you can get them from any Mustang vendor or Amazon. And a NPD catalog.

 

Otherwise, I'm one who says that the 5-speed was the most transformative of all my changes

1) 4R70W (ditched the C4 and this transformed the car.)

You don't know what you don't know, and I am as guilty as anyone. I'm not here as a salesman, but I did say "more than you know" and most can assume. A manual trans you are always in full control, but not so much an auto, until the E transmissions.

Consider the AOD and 4R70W - the 4R has a deeper 1st gear for accel. [EDIT - AOD 2.47 & 4R 2.84, so a 3.00 axle gear drives like a 3.45 ratio] The shift points are selectable by you to your car, shift firmness from mild to wild, full manual or even paddle-shifting, no shift kits (the black box is your shift kit), up to ±450hp with an hour's worth of free mods, and the list goes on. You can even blend settings so, e.g., it's a limo under 70% throttle, and a monster over that.

Just a note here to say that the "upgrades" are many, and not obvious in a name. There's a lot to like, doesn't have to be expensive, IMO well worth the end-result, and more reasons the swaps are so highly regarded.

 

If it hasn’t been said before, once engine is rebuilt, sent your distributor to Dan at mustang barn and have him recurve it.

 

You'll need V8 front spindles, hubs, etc. to match the 8" rear being installed so F/R are 5 lug vs. the 6cyl. 4 lugs.

 

I would get it V8 complete as mentioned, then safe and steering tight and then drive it awhile and reassess.

 

Halogens headlights on relays, and/or a fused relay panel for multiple switched 12v sources, you can get them pre wired; VintageLEDs for your brakes and signal lights and I find a "street light prism" for dash or windshield is pretty useful if you're tall.

 

@Rebel Read the thread below paying attention to Post #10 authored by @LSG and Post #14 Authored by @22GT .

VMF How would you rebuild a 289 for 275 HP link

 

3 row radiator and E fan but im in south Tx so addressing heat is a priority

 

Two additional suspension-oriented mods not yet mentioned:
(1) Subframe connectors
(2) Metal divider between back seat and trunk (inexpensive and easy to do)

 

You know, those thinking about a V8 swap, I think building the 6 cyl with a Turbo could be a game changer, and I have yet to see it done.

 

Been done with very good results before:

In reality though...If I were to go through the effort of building a 200CI turbo, I would swap to the 250 block and run an Aussie crossflow head. In for a penny, in for a pound right? Those heads are harder to find these days, but they are far more suitable for a turbo build.

Back to the original topic though:

The problem with all these suggestions is that the original question by the OP is too vague. I have gone pretty crazy on my build, but it likely wouldn't be suitable for most other people, and I have too often seen dismantled project cars for sale because the owner bit off more than they could chew...which is why I suggest doing nothing initially(including a v8 swap) and just driving the car. Then you can find what you dont like about the car and focus on addressing one thing at a time. I mean...a v8 swap sounds great...but in reality you may get just as much enjoyment out of the 6 cylinder...especially once you find a v8 swapped classic mustang is still slower than your daily driven Honda Civic(an exaggeration in some cases but definitely a valid consideration).

 

Lots of interesting and great responses. I guess "low cost" is subjective based on one's goals and budget. Here are some low cost upgrades for a 6 cylinder to a v8 conversion. The sky is the limit really with this stuff.

1) export brace
2) roller spring perches (assuming ones needs replacement V8 spindles, springs, and more than likely upper and lower control arms). If buying news spindles, might as well go with big bearing spindles with OEM geometry. Then upgrade with 7-73 tie rods for increased strength.
3) shelly drop
4) good quality shocks
5) tandem master cylinder (assuming disc brakes would be in the works. Budget disc would be an OEM style Kelsey Hayes calipers)
6) upgrade all interior and lighting to LED fixtures. Recommend placing headlights on relay.


Other upgrades that I absolutely love making to my 65 daily driver convertible. It was pretty much a stock car, but now a daily restomod. I realizer these are not low cost upgrades, but I placed in order of enjoyment.

1) 4R70W (ditched the C4 and this transformed the car.)
2) 3G alternator with electric fan. (200 amp alternator allowed for many electronic upgrades) upgraded all lighting to LED
3) Upgrade OEM under dash AC evaporator with high efficiency heat exchanger, Sanden 508 compressor charged with R134.
4) Vintage Recaro LSC heated seats.
5) Ididit tilt column with billet steering wheel
6) TCP power rack and pinion
7) TCP front coil over suspension with big bearing spindles (4 link in the rear next)
8) 13" wilwood disc brakes up front with 12" in rear with EPB.
9) aluminum driveshaft with 3.00 8" true track.
10) restomod 5 cluster instrument cluster (way better than the stock falcon instrument cluster)
11) 10" touchscreen stereo with CarPlay and 6 speaker stereo system. Subwoofer in trunk.
12) Push button start with wireless key fob, power windows and locks.
13) Pro Flo EFi with Roller 302, aluminum heads.