Well, I got it together and took it for a spin. It's great! 1, 2, and 3 pull harder because of the torque multiplication. 4th is the same as the 3 spds 3rd. I got out on the highway for a few miles and I was only doing 2000 RPM while keeping up with everyone. I'm not sure how fast I was going. The speedo said 70 but it seems to be reading fast. However, 70 is about the right speed on the highway around here. In 3rd with the old transmission 2000rpm was about 40 mph. Now in 4th, at 2000rpm it says about 50. So I probably need to get a different driven gear.
So, if you do this conversion get some clutch kit with a diaphragm plate. If you can afford it, have your flywheel drilled for the 1986 - 1993 mustang or, even better, get one of Mummert's billet flywheels which are already drilled, so you open the door to a seemingly limitless number of aftermarket options. Also get one of Mummerts throwout bearing assemblies. It is a hub which uses a mustang bearing and allows the use of the trucks fork. And always make sure the flywheel is flat - even if it is bran new - and get it balanced - It will be worth the extra money.
I'll add some pictures and try for a more fluid and clear post later. I'm tired and I'm going to bed.
Lawrenceville, GA