I daily drove a '78 T-Top for a couple years with a 2.3L Turbo in it...
Turbo Swap
I have a current version in a '78 coupe, but it looked like this:
http://www.a351must2.atfreeweb.com/2300coupe-002.jpg 5 years ago and hasn't progressed a lot. Looks more like this now:
http://www.a351must2.atfreeweb.com/78coupe/DCP_1370.JPG
It's using a '88 T-Bird wiring harness, new .020 over bottom end with arp studs, ported big valve head, roller cam, Holset HY35W, tubular header, Megasquirt EFI.
It's been driven a total of about 80 miles with the '88 TC computer and a non-intercooled T03 turbo. It hasn't been ran since I got the Holset turbo. I still need to get a properly sized intercooler, 76lb/hr injectors, a bunch of piping, possibly rotate the upper intake, and figure out what I want to do with the clutch and 8" rear to hold up to an engine in the 350 - 400 rwhp range.
For swap difficulty, I figured out the wiring for the first swap using an '83-'88 T-Bird Chilton's and a '74-78 Mustang Haynes manual. The wiring from the '83-'86 T-Birds is pretty straight forward. The current swap has the '88 wiring harness in it which involved a complete unsheathing of the harness and spreading it out over a 10' X 20' area of my front yard...I probably removed about 20lb of wire from the harness.
The only real physical issue is the turbo -> battery box clearance. For stock location, the battery had to be moved to the trunk and a large dent installed to clear the turbo. There's quite a few aftermarket manifold available now to move the turbo somewhere more convenient. The T-5 also comes up a bit short which moves the shifter forward a bit and also might require a longer driveshaft. Been so long since that part was done, I don't remember if I had a driveshaft made or not, but my pictures of the transmission make it look like I would've needed a new driveshaft.