If you want to do most of the work yourself, I would suggest a fox body 5.0 They seem to be a bit more easy to work on.
But hell, with a 28,000 dollar budget, you could make a helluva a car!!
I would take a look under the user rides here at mustangworks and pull up the 11 sec rides and go from there.
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347 Stroker Motor: Balanced, Cobra Transmission, Extrude Ported and Polished Upper and ported Lower, GT40 Milled Ported and Polished Heads, B303 Cam, BBK 1 5/8 Headers, 30lb Bosch Injectors, Holley AFPR, March Underdrive Pulleys, Perma-Cool Fan, 3-Core Radiator, Accel Performance Coil, Accel 300+ Racing Wires, Ram Air, K&N Filter, 73mm Vortech MAF, 70mm TB, FlowMaster Exhaust w/BBK Offroad H-Pipe, Hurst Shifter, 3:55 Gears, Ram Clutch, Cross Drilled Rotors, AC and Smog del, rear seat del.
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