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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.
tranny uses ATF (automatic transmission fluid) like stated above GM syncromesh is what was recommended but borgworner (original producer of the T-5) i highlyrecommend it i use it in my tranny, and i also recommend a name brand synthetic fluid one or the other would do just fine....
as for the rear i know it's heavy gear oil but i'm not sure exactly what weight, i believe that it's 80W90