I'd recomend a small block-wide ratio 4 speed, the one with the 2.78 low gear.
Mummert makes an adapter to utilize a t-5 from a 5.0 Mustang, that would give you a healthy low gear, in the 3.0 range and the 70% overdrive. Use that and a 3.50 or 3.70 rear gear and you'll have the best of both worlds.
Frank/Rebop
Bristol, In ( by Elkhart)