I mean no disrespect but this subject has been beat to death on all Mustang forums. If your looking for info on what and what not to do on your rebuild, just use the search and you'll be reading for days. Good luck and welcome to the forum.
306 with all bolt ons, letter cam, ported E7's, T5 swap, full exhaust, 3:55's, 2" drop, and the worst paint you'll ever see or feel.
Dyno'd 300/316, 2745lbs-track scale
Best ET………12.4@108, 1.66 60ft on 8" ET Drags.