I "barely" looked into getting rear coilovers. Mostly cause of the added expense, and I didnt want to lose my sway bar mounts (on lower control arms)...
So I simply did the adjustable spring perch Griggs lower control arms.
THere are other posts (historically) in this forrum that have covered this topic.
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Darius Rudis
Roadracer: Home built t-arm/panhard suspension powered by an S-trimmed motor :-)
My Mustang Page