Mach 1 - I've seen three different 5.0 Mustangs with H/C/I combos all in the 11 - 14 range. Now, 4 with yours. So, I don't think that this range is 'abnormal' considering how well all these car run at the track and there overall driveability.
Maybe a stock setup runs 15+, but I dunno.
Also, have you considered an Autologic chip (w/dyno tune, if available)? I got one for the 331 and it idles like a dream. Here are my cam specs (w/1.72s):
115 lsa, .516/.516 lift, 220/226 @ .050
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1991 5.0 LX Coupe - 40,750 miles
331 cu. in. / Tremec 3550 / BFG Drag Radials
12.22 @ 114.31 mph - w/1.89 60'
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