If you are going to go through with buying a new motor, I would really reccomend looking into something other than the GT40 crate motor. Is it a good motor? Yes it is, but there are better ones out there for sure.
Check out DSS in the mustang mags. If I were you I'd look into one of their bullet shortblocks, then buying a set of heads seperately. Their base 306shortblock is $1499, then if you dont want to go too serious, then get a set of GT40P's (this would be comparable to the GT40 crate motor) from Summit for like $550 (you'll also need the headers ~$200)
So if you go this route, you'll save atleast $1000 on the longblock, or your could go after a nice set of aluminum heads (AFR, TFS....), still save money, and have an awesome motor.
good luck
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NMRA O/C 9516
NA pumpgas stickshift 347 10.65@125.6, 6.73@100, 1.41 60ft
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