Thanks for responding so quickly, guys! Yes, I'm not looking for the fastest Mustang possible built on factory parts (even though that would be awesome!). I'm just trying to build something I'll be happy with: great performance without reliability problems or high cost. I know it's a virtual oxymoron, isn't it?
I just added up the machining costs and the cost of the other parts I'll need for this project. Looks like it'll leave
approximately $450 for pistons in my budget, which is a total of $2k.
I looked into Wiseco, Probe, TRW, and Speed Pro. The only one I haven't actually found a price for was the Probe SRS's (which would give a C.R. of 11.3:1). Having a goal of a CR of 10.5:1 to maintain street manners, I think the Summit Racing kit with part number
FEM-MHP173-211 sounds like my best bet for a cost-effective solution. It has most of the items I'll need for a rebuild, plus the pistons will yield a 10.13:1 CR. Not as high as what I was aiming for, but still acceptable. If I go this direction, it will leave me enough money for a Lentech valve body or possibly a nice set of roller rockers.
The pistons in the Summit kit can be found
on this link right here (they're TRWs) Any advice concerning TRW's? IIRC, they're what Ford used as original equipment in 5.0L's.
Also, any thoughts on my goal of 10.5:1 CR? Sounds about right for a streetable car with 94 octane, no?