There is NO WAY that the 4.6 would fit in a 65-70 Mustang without cutting out the shock towers. This engine is VERY wide. Much wider than 289/302. Wider than the 351W. I seem to remember seeing somewhere that the 4 valve 4.6 is wider than even the old Boss 429.
You would HAVE to do the Mustang II front suspension swap. You should have LOTS of $$$$ to throw around, because you'll need thousands to complete this swap. Good luck no matter what your decision.
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66 GT Fastback 5.0, 5-speed, cable clutch, JBA's, 3.40 gears, EFI coming soon?
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