If you want a fat torque curve, you can't beat fuel injection dude. That and FI allows for easier supercharging.
A GT-40 longblock and an off-the-shelf Novi 2000 will absolutely have you in the 12's. You can get a preassembled wiring harness from Ford Racing if you see that as an obstacle. Just my .02
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Capri306, Moderator, The Mustang Works Online
1979 Mercury Capri, 5.0L -- C4 -- 2.73
1987 Mustang LX Notch