Is your 306 making serious HP? If not, I wouldn't worry about your T5 - they are much stronger than people give them credit for.
Now, having said that, if you're making 350+ HP and dropping the clutch at 5000 on slicks...well you're going to break something sooner or later (T5, shear an axle, etc.)
3rd gear seems to be a weak area of the T5 too.
Are you planning on running slicks? If not, the T5 should hold up fine.
How many miles are on the tranny?
E
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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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