[ALMACK]

Sounds like a fun setup.

I think it would be perfect for PS.
Those 4.6 modular engines need to be revved to get up into the powerband, but with a stick that should make it a lot easier.

The factory T-45 trans is stronger than the 94-95 T-5 trans, ( or so I have read) so that's a plus.
4.30 gears minimum.
( I run 4.56 with my '95 5.0 setup/28 inch tires )

You might look into stepping up to 24lb. injectors and one of those handheld tuners.
Bigger pump in the tank is easy. Plenty of those around.