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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
I would say go with the windsor jr heads. Cheaper then the alum heads and flows better then most of them as well. Would be ideal for your setup since you are not trying to make high numbers or whatever but you can make an easy 300rwhp with jr heads. I also recommend the steede 19 cam . Great sound and gains even though it is an older cam you dont need a custom grind for your setup.
I was going to second this...but they are not cheaper. A SINGLE assembled head is $600...not worth it for iron. If you find them on CL or racingjunk then maybe because they'll be used...then they could be a decent deal, but not brand new. Why spend $1200 when you can get the whole top end kit from edelbrock with aluminum heads for $1500?