I agree with what Scott H says, Lucy can be anything you want her to be. These cars are so freakin easy to work on it practically does itself (compared to new cars, and infinitely more so to 80's cars). That vacuum switch (3 pronged joker on your thermostat housing) is just for emissions crap... if your car runs fine without it then don't worry about it. A V8 swap is very, very easy to accomplish although a "proper" V8 swap is more involving. What I mean to say is that a lot of people will think it mandatory go run a 5 lug bolt pattern, upgrade the breaks, and change out the rear end. If you're swapping just the engine and transmission (not necessary if it's an auto) it can be done by a somewhat skilled do it yourselfer in a few hours as long as you have all the parts. I'd really reccomend picking up a Mustang Monthly and calling all the stores in it and ask for a catalog. Then you'll see exactly what's available for your pony.