Was the whole thing WCZ-V1? Going by your name you have a 67, like me, and when I cleaned off my diff tag it was a WCZ-V1, which translates to a 8", 2.79 gear, 28 spline axles, open diff. In all the rear ends Ford made for the Mustang from 65 to 72, V1 was only used in 67 tags. Now, you said both wheels spun when you turned one, but was the one the you weren't turning going to the oppisite direction as the one you were?
-Shaun