well, you need the bumpercovers, mouldings, a welder (for welding up the rivit holes), a grinder for grinding the welds, filler (bondo) for filling the holes, paint, sandpaper.....
i would just keep it a gt, but do as you wish.
to get the mouldings off is a ***** (and i speak from experience), you need a tool to get them off, then a heat gun to remove the double sided metal sticky tape, then clean the surface, then re-apply new double sided sticky tape.
i dont think i missed anything.
good luck
kris
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1988 Mustang GT, T-5
3.08's, No Smog Pump (Shorty Belt), Dumps At The End Of Stock H-Pipe, K&N Air Filter (Stock Air Box), Removed Air Silencer
My Stang
My Site (Not Done Yet)