Goals. What are your goals? This is what everyone keeps reminding me of while doing my build. If you build it cheap and it doesn't meet your expectations you will be disappointed.
Best advice you have gotten so far.
Figure what you want to do with the car: Daily driver with a lot of around town kick, weekend cruiser, daily driver with/weekend drag strip.
Keep in mind that if the car will be a daily driver and you have long highway commute that the tall gears (4:10, 4:30) need to get and AOD moving quickly will soon get tiresome in both the driver comfort and gas mileage dept. Add to that a torque converter with a higher stall speed, and the gas mileage can be disappointing.
A daily driver needs to be reliable above all, and needs to have good manners in heavy traffic. That means you will need to carefully match the intake, heads and cam to be traffic friendly. in that case, stick with stock cam, and heads and intake that do not have huge port volumes. That will give lots of low speed kick that makes the car fun to drive around town. Having to get the engine wound up past 3 grand just to get out of the way of oncoming traffic can be a problem...
If you want a street/strip car, remember that what you break on Saturday night you may have to spend Sunday fixing so you can get to work or class on Monday. Be prepared to schedule your track time when you have time off to fix things that break after the track runs. If you race the car, you will definitely break things more often.
If the car is a strip mostly car with a little driving to get to and from the racetrack, strip it down and do the bracket racing thing. The AOD can be very competitive because the 60 ft times can be very consistent.
On a budget? do the junkyard upgrade...
Gears - 87-88 T-Bird Turbo Coupe rear axle - disc brakes and 3.55 or 3.73 gears in one package for $125-$300. Add another $100-$200 or so to complete the brake upgrade.
94-95 Mustang GT MAF - $40-$100. It is 70 MM instead of the stock 55 MM on regular stangs built prior to 94. It uses a slip on duct on the side that goes to the throttle body and a 4 bolt flange on the other. You need a flange adapter to fit the stock slip on air ducting that goes to the air box. Wiring plugs right in with no changes. *1 *2
95-97 Ford Explorer intake manifold & throttle body $150-$300. The intake manifold flows 220 CFM +, much better than stock. Throttle body is 65 MM, bigger than the 60 MM on stock stangs. I got a 96 with EGR passages that match the stock setup, so my smog gear works just like factory. You’ll need a 65 MM EGR spacer & new gaskets for $65-$90 so you have a place to mount the EGR & throttle linkage.
3G alternator from 94-95 Mustangs or other Ford. $20-$120. A must have to make the electrical system work like it should or if you have an electric fan. You’ll need a 4 gauge power wire and a 125-135 amp fuse to go with it about $15- $30.
Lincoln MK VIII electric fan -$40-$160. Free up some HP by not having to drive the stock fan. The 3G alternator upgrade is a must have prerequisite before you do the MK VIII fan. You won’t have enough electrical power if you don’t do the 3G upgrade.
Aluminum driveshaft: (courtesy of shawn13) It needs to be from a 92-93-94 Aerostar AWD. It measures 45 ½” center of the front U-joint to center of the rear U-joint. You will need the U-joint, part #PUJ353 from NAPA. The Canadian NAPA pat number is 1-0134BF. It should bolt right up after the U-joint swap.
Note: This driveshaft is not an exact duplicate of the Ford Racing part. It is 3” in diameter while the Ford Racing part is 3.5” in diameter. There is no guarantee that the balance will be any better than the stock part.
Use a piece of string and wrap it around the driveshaft. Make a mark on the string where the ends overlap. Measure the length of the string:
On the 3" AeroStar driveshaft the string will be 9.42" or about 9 7/16" long.
On the Ford Racing 3.5" driveshaft the string will be 10.99" or about 11" long
*1.) Metal flange adapter
Ford MAF Adapters - Air Filters - Kurtz Kustomz Motorsports, Inc. KKM Buy the TR70 for $40. Or spend some time on eBay looking for one that may fit.
*2.) MAF & sensor interchange
The 94-95 Mustang 5.0 MAF & sensor is also found on:
1995-94 Mustang 3.8L F2VF-12B579-A2A,
1994-92 Crown Victoria 4.6L F2VF-12B579-A2A,
1995-94 Mustang, Mustang Cobra 5.0L F2VF-12B579-A2A,
1994-92 Town Car 4.6L F2VF-12B579-A2A,
1994-92 Grand Marquis 4.6L F2VF-12B579-A2A,
Evidently the –A1A, -A2A, AA, etc. on the end of the part number is a minor variant that did not change the operating specs. You should be able to ignore it and have everything work good.