Hood And Rear End Questions

Hey guys found a guy with a Cervinis Ram Air hood for sale for $125. I don't think I'm going to do the ram air set up so what do i do with the two gaping holes in the front of the hood? I know this may be a total noob question but how do i keep water from rushing into the engine bay? He also drilled holes for hood bolts in it and I honestly have never liked that so before I paint it I might get them filled in. Is it suggested that you use hood bolts with a fiberglass hood?

The guy also said he had a rear end out of a 96 Mustang that he would sell to me for $100. That is a 7.5 though and not the 8.8 we have in the fox bodys right? Is that going to be as strong as the stock one? I want to do a 5 lug conversion eventually and figured if it was a good deal I might just get it and start collecting the stuff I will need or is there something better I should hold out for?
 
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I've got an SVO style opening in the front of my hood, and it's been that way since 99 without any issues. The hole is dead center over the distributor to beat all.... Some people swear you should have hood pins with fiberglass hoods, and they certainly provide insurance against the hood flopping up while driving. I have never pinned mine, but mine is very thick at the hood mount, and maybe I've been lucky.