Yes, you'll have plenty of room. I already had my Crane HI-6S stuffed between the factory air box and the fenderwell and after the Mac Cold Air install I could probably put three more ignition systems in there.
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91 LX 5.0
Z t-5, 3:73 gear, Vortech 73mm Mass Air, Accufab 65mm TB, BBK underdrives, Crane HI-6S Ignition, BBK unequal length headers, Bassani x pipe, 2.5" Dynomax Super Turbo cat back, Kenny Brown Super Subs, Factory Five Control Arms, Mac cold air kit, Nitto D/R's and more to come!