What kind of intake are you going to run?
A spyder might fit, I used a trick flow r and there is NO way it will fit under a stock hood(same with the edelbrock). If you move the engine back a inch you will run into exhaust,tranny, and drive line fitment issues. If the engine goes back an inch so does everything attached to it.
The exhaust will stick out an inch farther from the rear end. The tranny shifter and cross member may need to be modified. And your drive line will probably need to be shortened. Just beware of moving the engine anywhere besides up or down. I looked into all the intakes for the efi 351 and couldn't find anything that would fit under a stock 94-95 hood. Even if you do find one why would you want to chock off a 351 engine with an intake design for stock fitment not performance? Good luck with your search....