if you launch in 2nd you can say bye bye to your clutch
what year mustang are you working with? any mods?
you will DEFINATELY need much larger tires. Find some old used 10hole or turbine wheels if your on a budget. They are both 15x7.5" wheels and can hold a 255/15 pretty well.
I went from AOD to T-5 with 225/60 15's on mine and I couldn't even floor it at all in 1st gear. I cant imagine what it is like with 195's on there
Heck any T-5 mustang with 195's, even completely stock, will shread the tires badly.
Get some meaty tires and you'll be all set.