I use the 8.8" rear end with rear disc fom an '84 lincoln...you might be able to do the same, though the spring perches ned to be re-welded....also you will wantto measure the width to be sure....most likely you'll be able to use the engine and tranny too...if you take the ECU and wiring harnesses from the lincoln...I doubt you'll be able to use the front disc stuff though
I have an engine, AOD transmission, and driveshaft from an 87. I know my profile says 88, but its a very late 87, which has the "E code" 225hp 5.0 HO motor with E7TE heads. This is the same bottom end as an 88 mustang or mark vii. I'm using a carb, so i didnt care about the speed-density fuel injection, which is inferior to the later model mass-air design.
The majority of the 87 mark vii's have the "M code" 200hp engine with e6 heads, which dont flow as well. but, if you get some AFR 165cc heads or equivalent, you're in good shape.
As far as the driveshaft goes, I had my driveshaft shortened and the end was modified to work with my 8" rear end.
Also, it has a harmonic dampener on the transmission yolk, and supports much stronger u-joints than the 66 setup. (i used spicer joints)
I think the 87 still had speed density EFI instead of a mass air flow setup. I would switch it to carb and bolt it in. Check the V8 swap sticky for more info on that.
people always rag on speed density, but the truth is mass air only has one advantage, and thats automatically adapting to minor(I stress the minor part here) mods....speed density is fine....if you dont like it you can convert to mass air....personally I will never use a mass air setup, I think the mass air sensor is another useless sensor that contributes to throttle hesitation on EFI cars.(at least from my understanding, the lag between the time the air is measured and actually enters the intake ports, at least naturally aspirated speaking) To me, the best system is a programmable speed density setup....true, you have to re-tune for every mod(for an ideal tune anyway) but you dont have to deal with MAF sensor costing hundreds of dollars you have to upgrade...the throttle hesitation doesnt exist, and its a simpler system and I am all for keeping EFI simple...the OEMs try to complicate it too much)
From my understanding, hardware to re-flash ford ECUs(speed density or mass air) is readily available
Aftermarket speed density setups are just fine but the Ford speed density system from the 80 sux. If I was going speed density in a classic, I'd just the Ford ECU and use a megasquirt.
Honestly, I'd say it really depends on which carb and who tunes it. The newer carbs like the Street Avengers are really nice. I think I'd take a Street Avenger over a stock Ford Speed density system. Now a Street Avenger over a good MS speed density setup ? I don't know about that, I think the MS wins that battle.