I have a T5 in my 56 Victoria. #! - There are several T5s. Be sure to get one from a 5.0 Mustang. Within that group are several gear combos. I believe my 1st gear is 3.30:1. All 4th gears are 1:1. My OD 5th is .67:1 I have 3.73 gears and am running 235-75-15 tires on 8" Cragar Street stars. 3.50s might help in town as the 1st gear combo is LOW but 3.50s with my tires and .67:1 OD would mean I could almost never use the OD. Right now 70 MPH in 5th is just over 2,000 RPM.
Back to installation: I used Mummert's adapter. Worked well. Though the input shaft is 3/4" longer, the adapter is 3/4" thick. Clutch disc and input are both 10 spline but the Y 10 spline won't work, get one for 'Stang.
Will also need to cut large section of tranny hump to aid in stabbing the tranny but a flange added to the removed section and sheet metal screws will fix it. if you need the seat moved forward any, need to get a tail shaft off an S10. Mine is all the way back and I bought a Hurst stick.
You may need a drive shaft made. The T5 is shorter than the std tranny but you are running another tranny already. Also may need a cross member but same as above the one you have may work but did not when removing original 3 spd.
GREAT improvement in my vehicle.
TC
Austin, TX
You gotta have the right tools and know how to use 'em.
TC - Austin, Texas