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I have a tremec 3550 in my 65 hooked to a 1995 motor. The tremec needed a spacer plate between the trans and the bellhousing. I suspect but don't know that if you have that spacer plate, it will take care of the different shaft length problem pointed out by StarFury.
There are aftermarket T56's. The TREMEC transmissions are designed to fit anything American, they have varying shaft length and splines combined with bolt patterns and bell housings to get a "Ford" T-56 to fit Fords(there are T56's for Mod engines and T56's for standard SBF, and so on).
Factory T56's are sometimes application specific, and sometimes can fit an array of vehicles.
The T56 for a mod engine(4.6/5.4) is different than a T56 for a 302/351. Primarily it's the input shaft that's different.
The case of the T56 is much larger than a T5. You will have to modify the trans tunnel if you go this route. If memory serves, you need to raise the tunnel one inch.