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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.
28. 31 is when you get a lot more hp and need to start worrying about snapping your axel.
Has way more to do with traction and suspension than hp. Launching off the limiter with slicks/suspension on a bone stock motor can tear the axles to shreads fairly easily as well.
I've seen a guy at cecil county drag strip which is a well preped track snap an axle and go into the wall with 14 sec car. If you plan on running slicks I'd upgrade the axles and install c clip eliminators just for safety reasons. They could save you a lot of money in the long run. It think you'll be fine w/ 28 spline but you should probably get stronger axles.