You're also going to need to upgrade your cooling system and do some major chassis reinforcement if you expect that car to live long and track strait under that kind of strain. You'll need to have a set of battle box's welded in and they won't even let you near the race track without an 8-point cage welded into it. Tires and wheels....not to mention all of the miscellaneous hardware needed to put it together (bolts, gaskets, etc)
...and that's just what I'm able to come up with off the top of my head.
And yes, the 351W base will be a better starting point. Bored and stroked to a 408-427 along with supporting components and you'll make the kind of power you're looking for to hit your 9-second goal.
You realize this is going to be about a $20,000 investment, on top of whatever your car is worth, right? And that's with you doing most of the work yourself. Add another $5,000 in there for labour if you're having someone build it for you. Just preparing you for the financial hit. Unless you are a competitive racer, or have a lucrative income, you might be better off setting your sites a little lower. A 9-second Mustang isn't for the faint at heart.