Matt, I did the MII Conv on my vert a while back and did an article on the subject.
http://www.mustangdepot.com/graphics/RoomforMore.pdf
The install is not that tough, but if you plan on open tracking the car, I would consider more bracing than the kit offers (ie firewall to front subs at least).
The crossmember sits kinda low too so it's another consideration.
PS I'm not the biggest fan of using a torch, but in that tight area, it may be necessary. If you can get a grinder in there and shave it off, give it a try.
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Sinister Stang 1965 CP 302, E2 Body Kit, Paxton SC, TCP Front & Rear Coilover, TCP Power Rack, GT40 Wheels w/Nitto NT01's, 457 rwhp @ 5 lbs of boost
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