[Mark Yacavone]

Yes, you can use a T5 with the heavy o/d gear removed. I would not suggest doing it though. I had to use a T5 , converted to a 4-speed, in my 80 Mustang turbo car. I needed the 3.94 first gear. It came with a T4 , 4.05 first, but no good shifters available.
Be that as it may, I wouldn't use one if I were you .You still have to deal with that funky top shifter.

So, here's your dime rocket W/ Stock stick shift tip:
Use a 2.84 or 3.11 Saginaw . Slick shift 2,3, and 4, and put a real shifter on it.
It does have an iron case, but the gears are smaller, so it can't weigh much more than a Muncie. I don't see any problem in a 2500# 4 cylinder car.

The operative word here is CHEAP. The "hot rodders" hate them, I guess because they came in Vegas. But they hate 305's too, so what do they actually know? ;-)