Don't forget the rear axle. Sixes came with 7 1/2" differentials. So you're looking at a whole new drive train, front suspension, steering, exhaust, paint and body, new disk brake conversion, Trans Am Racing power brake booster and conversion plate (to go with dual chamber master cylinder for the new disks). I wouldn't even worry about conversion to power steering. '66 power steering is pretty sorry. Most folks convert power back to manual. Still pretty easy steering. In short, I don't think you can do all that for $5000. Get some books and try doing some of it yourself. '66 Ford Mustang shop Manual highly recommended. I did do most of what you mentioned and a lot more of other stuff too. Did most of the labor myself and I think I've got more than $15000 just in parts and materials.
I'm not trying to discourage you, but you need a realistic budget so you don't get stuck in the middle with it only half done.
Rev
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'66 Coupe, 306, 300 HP, C-4, 13.97 e.t., 100.3 mph
1/4 mi.
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