mtrain
+1y
I would go with a Ford 351w. More hp potential, plenty of parts out there, same effort as it would take to do a 302/5.0, plus the distributor is on the front of these engines.
Also, both engines take the same transmission, so find an old AOD and plug it in.
It would be good to go ahead and get an 8.8 rear end out of a Fox Mustang {87-93} as well as the driveshaft and be done.
I had to shorten an old Ford driveshaft that I had laying around, but it only cost $40 so not too bad. Also, I have a Fox Mustang driveshaft and I mated up the rear to the Mazda rear and the bolt pattern was the same so if you don't have the funds for another rear end then that might help.