First off, kudos for picking a Town Car to do a HO conversion. Comfort is nothing without the muscle to get it going off the line ... and the HO's more economical/efficient, to boot.
Go to either crownvic.net or lincolnsonline.com, where they have multiple tech articles and forum posts detailing all the basics of the HO swap. In a nutshell, if you're keeping the stock block and keeping EFI, you'll need:
E7 heads
HO cam
HO lower intake manifold
stock HO throttle body (will have to flip the butterly unless you reverse the upper manifold)
19-pound injectors
ECM from speed density-controlled AOD Mustang or Lincoln HO
stock or aftermarket shorty headers (stock Town Car headers will work, but will be a serious bottleneck)
Catted or off-road 2.5" H-pipe is mandated when using Mustang headers, as the stock logs are too small (unless you like lots of welding)
There's a slew of other goodies you can tack onto that list for added "ooomph," but that's the essentials. If you're going carb'ed, just scratch off the HO manifold and injectors, change the ECM to like an '84-'85 Mustang AOD (non-CFI), toss on a performance intake manifold and carb of choice, and Lokar shift linkage (for the AOD kickdown).
Can't recall if you said yours was a pre-'86 model or not. If it is, you're likely running CFI, in which case you're far better off just going with the carb'ed setup. Good news of that is you're free to do a lot more wildness for far fewer dollars. Lots of fun to be had, either way. Good luck!
