owned the car since new, thought about selling it, drove a few new 2011 5.0s, thought they were really fast till i drove a 2007 supercharged mustang, but i just still like my 86 body style better, the 07gt turns 11.78 at 114 mph, thats what i want out of my 86gt, but the 07 is like 20 grand, so i talked the wife into moding mne up, do you think 15 grand might do it? as for the supension ill never take it to the track, street car only, as for driving it ,only on dry days, would like low 12s.
15 grand will more than do it.
You sound like you are in it for the long haul, so instead of building on top of an 86 shorblock which probably has flat top pistons, you may want to start with a built shortblock.
Me personally i see no sense in anything other than a 347.
Then add some AFR or CNC twisted wedges, edelbrock victor efi intake, 75mm TB and spacer. Convert the car to mass air and a custom cam and 30lb injector and you'll be flying.
Certainly faster than the 07 you speak of. While 11.78 is pretty quick, 114 by todays standards isn't all that impressive for a car with a supercharger.
I've seen good 347 cars run high 10's@124mph.
Play your cards right and you should have 5-7 grand left to put into the
suspension, brakes and drivetrain so you don't kill yourself.
That's just one way, you could always drop in an explorer engine, add a
vortech supercharger and go.
There is really alot of ways to make it happen. Sounds like you are paying for the work to be done, so you may not want to get too custom because labor may kill you.
Me personally had i have to pay for the work, the 347 route i mentioned above would be my method of choice.
Obviously that's not the way i presently went, but i have alot of resources.