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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.
With stock heads,nothing but worse gas milage and drivability,with a good set of heads it all depends on the grind of the cam 10-20hp is possible with the right cam.
It all depends on how big the cam is also and depending on the size of the cam will also depend on not only how much but WHERE you will make your power at. Give more info and what you are looking for. Are you building you car for the street? strip? street/strip?