INSTALLATION BEGINS 1/10/09:
OK, pepes.... didn't get done, but MAJOR progress
Ran out of time today as my buddy and I had to spend 1.5 hours JUST making enough room to get my car up on the lift. The shop has 7, count 'em, SEVEN major resto projects going with pretty much zero done on any for many a year! 
Anyway, we did all the hard stuff today, and even found a missing nut on the passenger side of exhaust manifold causing a small leak and will be fixed. The old trans came right out, and the new one went right in. I had read MANY times of the "massage" work needed in the tunnel for install, but seem to have lots of room. Passenger side has 1/2" all around at closest point and driver side (the side that will see the most movement at WOT), had nearly 1". OK, now some pics:
This is the existing clutch and pressure plate with a new FRPP billet fly. The clutch has about 15K on it and my buddy was pointing out the surface and said it appeared to have about 200 miles on it, at most! Installed a new T.O. bearing and reusing the clutch fork that was installed at same time as clutch, last year.
Here it is just installed and ZERO tunnel work needed to fit. Just the cross-member bracket needed and some wiring for reverse switch needed:
Completely installed along with new aluminum drive-shaft (1" shorter than previous one) and all toqued in. Once it was all installed, the clearance was still really good, so cannot see why all the installs saying tunnel work was required. The cross-member was for a Cobra and may not have even been needed. The "nuts" on the body are actually a sliding part that have alternate holes that are oval to line-up cross-member and would probably have worked with stock one. The Cobra one fits VERY nicely and was worth it either way:
Here is the reverse switch that is now connects on the passenger side. The wires had to be extended 1' to reach over the trans. I just cut the two wires and soldered two 1' pieces of wire inbetween and applied heat-shrink tubing as protection. I then wrapped the two wires with electrical tape so they would remain clean and not tangle up on anything. I also had to rob the reverse switch from my old T-3650 as the connection "posts" of switch were not only too large, but not spaced the same as connector:
The speedo connection went right in and don't see any other obsticles so far. We will hit it up tomorrow morning and get 'er done, as we just ran out of time today 
. We will also have to machine a new clutch spacer as the Ford cable has NO adjustment and is just a solid line with pressed ends on it. Appearantly, the T-3650 bell-housing is just a little deeper or something and the clutch cable is now about 1" too long. This is no prob, as Wes is good at machining stuff.
Will finish up and take a roadie with the galpal tomorrow and give y'all a little review of how it drives.
I almost forget.... MAJOR props to Bruce at Modern Driveline for all his help. Bruce was absolutely wonderful from start to finish on this project. He helped me diagnose the "howl" issue I had with my T-3650 and worked with me on how to address it. I mentioned that I was unhappy with the ratio's and was told a T-56 was the way to go. He looked at all the options and came up with the 1260 as a suggestion. I was VERY happy with the ratios and he hooked me up with the '03~'04 Cobra cross-member and confirmed a direct fit into my ride. Just this past Tuesday, he spent 10 minutes on the phone with me trying to locate me the proper flywheel as the Ford dealer could not get one in time. I received it the next day and was a perfect fit. Even got me a new set of bolts/dowl pins so it would all go together well as the 10.5" and 11" clutch need different bolts to anchor pressure plate. Thanks Bruce
Jazzer 
SECOND DAY 1/11/09:
She's Alive!!!!
Got 'er all finished up this afternoon and is wonderful
Little bit taller 1st gear so going into 2nd is a bit smoother. Nice and buttery shifting thanks to a nicer transmission as well as the new Pro50 shifter and happy as a pig in poop
The galpal and I are going to take a little road trip here in a few for a little more of a test drive. So far, I have not found reverse except when looking to find it. It is a little strange to push the stick over and forward to get into it though, been driving two different 5 speeds for about 23 years and reverse has ALWAYS been over and back. I have had a bit of trouble finding the proper gear when coasting to a stop and light turns green. You know, kind of floating at 15mph and look for 2nd and found 4th a time or two. This will not be an issue for long as I am not use to how close the gears are to eachother. The reverse lock-out spring is absolutely purrfect! Just enough resistance to "want" reverse and not just fall into it. Over time, I may decide to remove the spring altogether, but so far, seems just fine
I needed to make/install a new clutch return magnet and hence a new video uploaded to Streetfire. The lighting is MUCH improved as my video skills are now completely mad!
That thin curved piece is actually 1/2 of a hard-drive magnet set-up with a VERY strong magnet. It doesn't actually touch the clutch fork, yet has plenty of strength to pull T.O. bearing away from pressure plate. This should help extend the life of the bearing and has a nice little "release" of pedal when depressed, yet does not add resistance as a spring would.
Ok, pepes.... I'm outty
lé Gato dú Jazzee
NOTE: AT SOME POINT, I WILL DELETE THE LINKS TO PICS. I WILL KEEP THEM ON MY DRIVE AND CAN E-MAIL THEM IF NEEDED, SO PM ME