Thunderbolt is giving good advice. I think my Mustang Plus suspension cost more like $1500 and that was a few years ago. I include steering rebuild in that figure too.
If you want a huge kick a$$ engine, I say you need a 351W with as many mods as you can afford. A good one will take probably the whole $4000 if you include exhaust and cooling.
Thunderbolt is of course right about needing a tranny. You'll need a rear end with the right ratio and Traction-Lock as well to handle the power. More $$$.
Paint and body is a whole "nother" story. I did mine myself which I don't really recommend. It took me 6 months of week ends and cost $1500 in materials and tools (some rented). It was a major pain in the a$$ and turned out looking really only "OK". Good paint and body men earn their money. On the other hand, doing what I did would cost at least $6000 at a shop.
Hope this gives a little insight.
Rev
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'66 Coupe, 306, 300 HP, C-4, 13.97 e.t., 100.3 mph
1/4 mi.
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