I was checking on the Argentine y-block site and came across the differences between the Fase I timing covers like we have and the Fase II which is their later engine.
The Fase II timing cover has two openings for water flow whereas the Fase I has only one opening. I was wondering if this mod would help in cooling the y-blocks especially the Tbirds. Here is a link to their site and some pictures from their site comparing the two timing covers. The site I think is Spanish.

http://fordv8argentina.com.ar/diferenciasentref1f2.htm