2.3L tranny with 5.0L?

It should hold up, I think they used the same tranny in them all. We got a 4spd that had a 2.3 hooked to it, then we put a 302 in it, havent had trouble yet.

From my research they should hold up behind a mild 302.
Stock 302 engine should work fine. I have just finished doing
that conversion going from an automatic. I have yet to test
as my driveshaft is tool long and am waiting to have shortened.

The main difference is the input shaft. On the 2.3L tranny it is
skinnier. The inside and outside pilot bearing diameter is skinnier.
I had to have a machine shop press the 2.3 into a 302 to make it
fit. After that all seemed OK. Search at mustang.net for conversion
info.

It will fit. You can also use a 5-speed off a 5.0. Just need a different bearing. Ask in the 2.3 Forum for the best info. Or do a search in the tech article at the top.