5.0 rear main bearing... is it going out???

Negative. Because if you just throw a Ford trans up and bolt it to the block without lining up the converter with the flex plate, it'll literally smash the converter back into the pump and you run the risk of ruining the pump. Ask me how I know ;)
Now if we were working on a GM or a Dodge, this would totally work and would be an excellent idea
<---17 yrs @ GM dealer
 
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Welcome to Stangnet. I recommend you start a new thread describing your setup, and the issue you are having for better results. The original poster hasn't logged on in almost 3 years and the post is 8 years old. There are many people here who will help you figure it out.

Chris
 
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