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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.
Just get the bosch 02 sensors from napa or autozone, you can't avoid them they're all going to be around 40 bucks a peice. Get a fuel filter, PCV valve, plugs, plug wires, cap and rotor, wire looms, check and set your timing, antifreeze flush and clean as many sensors on your motor as you can find. Your 5.0 should be running very smoothly after that.