Here's the deal.
1985 GT Manual. 210hp with a holly 4bbl carb. That T-5 came with the more aggressive 3.35:1 1st gear ratio and a 7.5" rear end. I'm not sure what the gear ratio was.
1986 GT Manual. 200hp with SD SEFI. 58mm throttle body, special Mustang 5.0 HO specific heads that sucked big time. That T-5 also came with the 3.35:1 1st gear ratio. The car also received true dual exhaust, and an upgraded 8.8" rear end, with 2.73's I'm pretty sure.
1987 GT AOD/T-5. 225hp@4200rpm, 300lb/tq@3600rpm with SD SEFI. Enlarged 60mm throttle body, E7 truck heads promoting better breathing. The 87 weighed less than 100lbs more than the 85-86's when compared apples to apples. They got a new stronger rated T-5, the result of making the 1st gear ratio taller, to 2.95:1. That decreased performance off the line with the 2.73 rear end, but with the addition of 15lb/ft of torque, and 25hp the resulting difference in performance was notable.
1988 carried over the same as 87 except for the CA models, which got MAF.
1989-1992 all 5.0's were MAF SEFI, the cars retained the rating of 225 and 300, but since the engines were never actually tested the numbers are actually a little fuzzy. MAF cars lost about 2 tenths at the strip compared to the SD cars.
1993 GT 205hp, 285lb/ft. The 5.0 HO received hypereutic pistons, and the most passive computer of all the HO's. Ford said the new rating was a reflection of a new measuring system, but in reality the new system didn't deviate much from the old system, it's much more likely that the slight cam revisions, and the MAF system accounted for the loss of hp and torque as Ford was looking to eliminate warranty claims, especially on the T-5 cars.
1993 Cobra got GT-40 heads, a Cobra intake, roller rockers, cobra computer, 24lb injectors, and a cobra cam. Saddled with the worst computer in history that didn't allow the systems to go into open loop for a full 7 seconds this car was conservatively rated at 235hp, and 280lb/ft. In reality with a list of hardware that impressive it took very few mods to make these cars perform far better than that.
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