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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.
Yes you need to keep both of them, one on each side. most all off road H or X pipes come with the threaded bung already welded into the pipes where the O2 sensors are installed. just unplug the old ones and carefully remove them from the stock pipe before you remove it, then reinstall them in the new pipes after you install them and you will be fine.