Ok here is an update;
Last night I pulled the rear end cover dropped the drive sfaft an removed the pinion nut, the four 12 point bolts that hold the drive shaft to the rear end were tight as hell.
Good news it does have 2.73's in it

and it was a damn good thing that I decided to swap the gears cause when I pulled the drive shaft my U-joints were really bad
Today at lunch I will go buy somemore U-joints and today after work I will go and complete the job.
I think that as phucked up as my U-joints were that they could have been robbing power
they are so messed up that you can barely move them with your hand.
Its a funny thing I was never sure if I liked my little sisters boyfriend or not but last night when I was having a hard time with those four 12 point bolts that hold the shaft to the rear he jumped under the car in his good clothes and helped me out and new what he was doing after that he is ok in my book nothing helps male bonding more than working on cars.
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88 mustang gt convertible bored to 306 BBk equal length headers mac cold air fender kit cowl hood nitto drag radials ford racing clutch flow masters h-pipe 160* thermostat 16 degrees of timing electric fan off 94' t-bird jacobs electronics cap and wires. Edelbrock 1 1/2 inch drop springs.
best 60 ft 2.14, best 1/8th 9.65, best 1/4 15.2 @89mph, Stock gears and 3000+ Altitude