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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.
A custom ground cam is perfect. AFR heads and Trickflow TW heads are great. The GT-40x heads are not much better then the regular GT-40's. They are just made out of aluminium and overpriced IMO. A box intake will work, but you will sacrifice a lot of low end torque. You'd be taking the stock 302 to high rpm's just to make the most of that intake. I would get the Holley Systemax personally.
is there any real difference between the afr heads and the trickflow heads??and how about upper/lower control arms?is there any different in brands other than adjustability?
In general, the AFR heads have been proven to flow better than the Trickflows(10-20 hp difference). But then again, the Trickflows cost about $200 less. As for the suspension, I have no clue about. Sorry. The only suspension mod done to my car is that it was lowered 1.5 inches.
You will NOT need to flycut the pistons with the AFR(165 & 185) or the Trickflow TW heads. But you should check your piston-valve clearence just to be safe.