A stock '94 Convertible with the AODE is going to be the slowest pony in the stable.
Even a stock 5-speed will be a good half-second faster, which is a lot.
Taking it to the track and getting an et would tell you if it's unnaturally slow or just average (low-to-mid 15's).
The usual remedy for a slow AOD Mustang is 4.10 gears and a shift kit, to start. That will wake it up. Then, engine mods follow as desire for speed and cash allow.
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