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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.
10 with spout disconnected and fuel im not sure but if your going to advance then 93. and you can go all the way up to 18 as long as you got no pinging and pre detonation.
87 octane, I run at 14 degrees btdc and still run 87 octane with no pinging, you can try 16 degrees but you may need 89 or 93, it all depends on the car.