Looking For Ideas/suggestions

I have an 85 GT T-top with a 5 speed...I have done a lot of work to it just to get it to where it is and its got a long ways to go...I have recently found out my rear end may be bad...it "clunks" bad when applying power...I checked the U-joints and both seem very tight...the noise comes from the rear end...it also needs an entire suspension from shocks and springs to bushings...the brakes all need to be redone along with a new steering system...the Ty also needs attention since it grinds severely when shifting aggressively...the T-tops leak as well...I replaced the original 5.0 with a rebuilt 306 with a e303 cam, 600 cfm Edelbrock carb, new RPM performer intake, new electric fuel pump(5-9 psi) and stock heads...I have replaced main and rod bearings in this engine once already within the first 150 miles and it knocks again with just under 1000 miles on it...it also runs very rough above 2000 rpm's...I've replaced the whole ignition system with a new stock distributor, new street fire ignition box, msd blaster 2 coil, plugs and wires...the body is in really good shape...I would say 98% rust free...needless to say I have a obcene amount of money in this car already...I'm looking for suggestions on where to go from here...my goal as of now is to have a nice cruiser that's reliable but yet fun to drive however I've run very low on cash and don't know if its really worth going farther with it...I'm asking you all because I'm sure there are people on here that have been in my shoes...I'm looking for suggestions or any ideas you all may have that might help me decide what to do...I have wanted a T-top fox body since I was 13...the first car I ever drove was a 80 Mustang 2.3 auto and absolutely fell in love...thanks for any and all ideas or suggestions.
 
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I can't tell you where to go with the project, but I find myself in a similar situation. I bought mine from a guy who said this and that was done, he talked the talked and I had a basic knowledge of cars, all appeared to be good. Now, like you, I keep putting more and more into it. I found out the engine was probably not rebuilt like he said, found rust in hard to reach spots, had to redo things he said he did and every time I fix something, something else needs to be taken care of. But, I've wanted a fox since I was 15, so for almost 20 years I've wanted one of these cars. I finally have it, and that keeps me working on it. Sounds to me like you have alot done and if you just go slow with it, you'll get the project complete. Sorry its not much help, but if this is the car you've always wanted, and now you have it, you'll kick yourself later if you get rid of it.
 
When I was young, this is what I did... Find a junkyard that will let you scavenge your own parts. Go gather what you need. The brakes are a fairly cheap fix. But if you are low on funds you can salvage some brakes off of the Lincolns to get the upgraded caliper. You might even be able to find some good pads and rotors. You would be surprised what you can find. Don't just replace stuff. Replace it with better stuff. Make yourself a know-it-all when it comes to parts from different vehicles that will interchange with your Fox. It makes going through a junk yard a lot more fun. The one I go to has carts. I feel like I am in a grocery store squeezing melons. I just browse through yanking parts off of various cars that are better than the parts on my car.

On the engine - two sets of bearings going that quickly sounds like something is wrong. Are you using assembly lube? Are you priming the oil pump? Oil journals are plugged in the crank or something maybe. If it is the same bearings that are bad I would be looking at the crank. Take it to a shop.

I am no good with ring and pinion gears and such. So I can't help ya there.

Good luck man.
 
Thanks for the replies guys...SoFl-that basically explains what happened to me...the guy said my car was 98% mint...live and learn I guess...I'll never go at night to get a car again...ford guy-we did everything mentioned...I even got a different crank the second time around with matching bearings...my wife and I are in the process of buying our first house so when that all gets done I plan on tearing it all apart again to see what I can find...does the 85 GT have a 7.5" or 8.8" rear end...I don't have a garage yet so the car isn't here for me to look at...I don't have a pick n pull yard in my area...thanks again for the replies guys...its greatly appreciated.