A wider wheel base will essentially work like lowering your center of gravity. The lower the center of gravity, the less body roll you will have which will in turn keep all the tires planted better for more traction. Griggs seems to be the best at making killer handling components for our Mustangs so I'd check out what they have to offer in the GR350 package.
I had a 65 and a 66 Mustang when I was in high school and driving those cars is a total blast. If I could find a 65-68 to build for a corner carver I would definately do it. They just feel like they are lighter than the newer Mustangs. Kind of like an overgrown go-cart.
I say go for it. Then when you get it done come by and give me a ride in it 
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Project: 1988 Coupe - EFI 5.8L Twin Turbo with Victor intake, Canfield heads, F303 cam, March aluminum underdrive pulleys, TKO (or T56 if funds permit), PBR twin piston calipers and 13" rotors up front, 94 Cobra rear calipers and 12" rotors on the rear, 3.73's, Griggs K-member, tubular front control arms, torque arm and panhard bar, polished 99 Cobra wheels.
"The GR-40 kit installation is now complete, and the humble Fox-chassis car will now out-corner and out-stop a ZR-1 or a Viper, and support massive horsepower additions with perfect balance."
Griggs Racing
ICQ# 42269241
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