Rick91GT is correct about the 1.7s. You should go with a camshaft that has the lift you desire. 1.7s are a bandaid so that you can get more lift out of a cam without having to replace it.
The 351 TFS intake, however, is the correct intake to go with. The runners are shorter, but you want that when you have more displacement. Shorter runners give up some torque in favor of more horsepower. You can afford to do that. I have a GT-40 intake now, and I wish I had the TFS intake. I'll probably get one next year or if I see a deal on one.
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351W 89 Mustang GT Convertible