Well, first off, the 1983 T-5 isn't even a "world class" T-5. It has an aluminum bearing retainer, it's input shaft bearing is a set of needle bearings, the syncros in that tranny stock are inferior, and the gears are weaker. You also have a crappy gear ratio. With the 2.95:1 first gear ratio your T-5 is still rated at a maximum holding load of 260ft/lbs.
A new "Z" spec T-5 will have a tapered roller bearing for the input shaft, a steel bearing retainer, better syncros, stronger gears and the same crappy 2.95 1st gear ratio, but it will be rated to hold 330ft/lbs.
If you get the "Z" spec T-5 with the 3.35 first gear, you get a better first gear (unless you are running a 3.55 or lower (higher numerically) axle ratio. In which case the taller 1st gear may actually be nice, it'll keep your ratios closer, and give you a little more time in 1st gear. Even with the lower ratio 1st gear (3.35) you'll have a torqueload capacity of 310ft/lbs or so.
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