The 95 Cobra used the 5.0L just like the GT did (with some changes of course). The 1995 Cobra R did use a 351. A 351 will fit in your car.
It will be more work than if you were changing from a 302, but you should still be OK. I would suspect that if you used the trucks long block, you'd need to look at the following:
Larger Air filter housing (?)
New MAF
ThrottleBody
Upper intake
Accessories and brackets
Radiator (?)
A new computer and wiring harnesses.
Oil Pan
Headers
flywheel, and othe drive train items ?
I would also upgrade your rear axle to an 8.8" (V6 is 7.5")
I am probably missing a bunch of stuff. With out the 302 to rob of parts you may need more stuff.
Check out this months 5.0 Mustang Mag, it has the swap in it.
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