I`m not certain how a Fairmont hood height compares to a Fox Mustang, but I`ve been running 390 & 428 FE engines in my 78 Fairmont since 1988. I used a 4x4 360-390 rear sump oil pan notched to clear the steering rack, custom motor mounts & headers. The bowl vents on my Holley carb just touches the hood, so I run a hood scoop, but if your Mustang has a real Cobra-Pace Car cowl hood, that should be more than sufficent for carb clearance.