Best thing to do is buy used.
Get some aluminum heads for about $600
Have the exhaust side ported a bit.
Do a valve job and you should be in it for about $800
Get a cam, rockers,extrude honed intake(used...about $400...porting alone would cost that)
65 TB, 190 LPH fuel pump, 24 Lb. inj.
With installation at about $500...this would put you about $2600 bucks...and get you an honest 280 HP.
A 5-speed should go 12.30-12.50 w/ that combo.
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'88 coupe...stock as a rock.
Check out
http://www.burnouts.stangnet.com
11's coming soon!!!!
Heads,intake and cam are all here