If you can drive it right, a good bit faster. I'd say upwards of .5 - .7 seconds. The biggest problem you're gonna start seeing is traction problems and getting the hang of power shifting. I can pull a good many people on the street because (with decent tires), I don't have to worry about spinning. I can punch it and go....and go it will. If you haven't driven a stick Mustang in a while, it's gonna take some time to learn to launch the thing out of the hole. Also, no T-5 is gonna shift like a properly setup AOD, no matter the person at the helm. Drivers can't shift as fast nor as consistant.
With a proper gear and a torque converter, you could get there with the AOD, but I understand how you feel. Heck, I learned to drive on a stick, and I only bought this AOD car because it was too good to pass up. I've thought a couple of times about swapping out, but now that I've got basically a new tranny, I'll just "suffer" with my fun little AOD. When set up right they can sure get you your jollies

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--nathan
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'91 GT, Coast 347, 9.5:1 compression, full intake, Wolverine 1087 cam, exhaust, Keith Craft ported Windsor Jr. Irons (235 cfm intake, 195 cfm exhaust), AOD, PI 3500 converter, Lentech valve body, 3.73's (4.10's in the works), and Yokohama ES100's out back.
Daily Car: '04 Infiniti G35 Sedan 6MT