THe 429 will drop right in . I did the same thing in the 80's to a 67 coupe. 429 out of a 69 tbird. Had to use the stock exhaust manifolds and a c6.
The car ran like a raped ape. the hood closed and NOOOBODY had any idea what was sitting next to them at the lights.
Ford Power Parts in Norwalk Ca. made the engine brackets and I used a very flat flex fan for the narrow gap between the nose of the WP and the radiator.
Now for the downside. The 429 has gobbs of low end torque and the car will feel phenomenal, however, you can get more power, better performance out of a nicely worked small block w/ FI today and not be saddled with such a heavy motor and bad gas mileage.
Shock towers are not in the way for this (or a 460) swap. The engine is tall and skinny.
BTW - I uesd to always race this same idiot on rooselvelt blvd with a brand new (at the time) 86 Grand National. The 2 cars were about dead even which used to frustrate the hell out of him, since my mustang looked like such a POS.
jer