Just seeing what an estimate my 92 Mustang LX to run at the dragstrip with the following things done..
Stock suspension, stock rear end/gears, full interior besides race seats, 26" slicks, stock t5 w/ Hurst short throw, stock block, b-303 cam, Jegs gear drive, pro products typhoon intake, 650 dp carb, 80's 351w heads, longtube hooker headers, straight flowmasters, msd ignition box & coil, msd distributor, manual rack & pinion.

 

Hard to say, but the stock gears are not going to help at all. To get good times you need a good 60ft time. You MIGHT be in the 2.0 range now, but knock that down to around 1.6's and then watch your ETs drop. The old rule of thumb is every tenth you drop on you 60ft, equals 2 tenths on your et. That's for the 1/4 mile thou, I've never raced the 1/8th.

 

Maybe high 8.9s. Most likely low 9s.