Mustang buying advice?

Basically, here's the deal. (i posted this on another thread, hopefully i'll get more responses)

I go to autozone and the dude at the desk after looking at my 1989 2.3 lr mustang, and after I mentioned about getting a turbocharger, told me about his old mustang that he used to street race.

1984 BRAND NEW ENGINE 500 miles on it. BRAND NEW 5 speed. Rebuilt turbo chargers. Enlarged Fuel injectors. Maxed out at 300 horse power. The interior is pretty rough... in the sense that the drivers seat is messed up. Under the hood is missing a "computer" (did they have computers back then?) And the AC.

$1,000. he's getting rid of it because he has a Ford Explorer, which he got 3 years prior and has mainly been driving that. And because his Girlfriend soon to be Fianceé says it's gotta go and he can't race anymore. He mentioned something about having to bringit up from Alabama. So I assume he'll drive it? (is it drive able)

So the question is, A. Would the engine be compatible with my 1989 mustang. B. would I be able to use my current car for parts and replace the parts missing in the (new) 84 stang.
C. I'm not very car oriented so I'd have my macanic do it (who i trust very well). Any guess on cost?

and lastly, i've got a checklist of stuff to make sure i don't get is there anything i should add...

*Check the ORIGINAL Engine Reciept, make sure the number is the same as the one on the Engine.
* Make sure the Engine wasn't from some "bubba's Engine shop"
*If he drives it down then that would mean the car is OK and not dry rotting
*If he doesn't drive it down definetly get a Macanic, that i trust, to check for Dry Rott.
and Finally
* Have a macanic, that i trust, to check out the Car reguardless just to make sure.

- Christiaan

an 84? hmm, sounds a little wierd to me...your gonna need some fine details before anyone can recomend anything. If its an "rebuilt" 84 turbo motor, i would be weary of doing anything with it, only because machine shops usualy replace the forged pistons with there weaker counter parts CAST! you need to know

who/where it was rebuilt, and what was put in it
What computer was in when it was running
If he "Upgraded" the injectors, the computer also had to be upgraded
how many miles
accidents
he said he used to race it, thats a hint this motor/car has been abused

Not being mechanicly inclined is gonna hurt you in this type of deal...i suggest hanging around here, reading up and learning the ins-outs of these cars before you go droping 1k on an shady deal.

I agree. Find out if its a Turbo GT and if it is we will if you part it out to a 89' mustang These cars are probly more rare than the SVO in my opinion and worth collecting