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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'm usually an advocate for the smallest necessary TB, which in your case would be a 65. Like 2 kwik said, it's good throttle response, but also will net you a bit more power on a setup like that. However, if you're going to be getting heads sometime in the relatively near future, I'd just get a 70. It'll last you up until ~600hp, and you wouldn't have to try to sell the 65 and buy a 70. And stay away from the alphabet cams. There is better technology in the newer cams
I thought about upgrading my TB to a 70mm unit from the current FMS 65mm when I did the hci swap, but I am glad I went the 65mm. Helps keep air velocity up and I made more hp and tq than similar combos my buddies have with 70mm throttle bodies. Bigger isnt always better