The 71 302 will bolt in to the car and trans, and such, but there are some things that will have to be addressed.
The 71 is a flat tappet cam block and your 5.0 roller lifters will not fit, so you will need a flat tappet cam, and a distributor or dist gear to match the cast iron cam, vice the steel one from the roller 5.0. Or a retro roller cam setup. Either the old 289/302 firing order or the 5.0 one works, just have to match the cam. If efi, you most likely would want to use the later one.
It is also a 28 oz balance motor, so you will have to use the 71, or at least a pre 80 flexplate and balancer, the late 5.0 items will be out of balance. Should be easy, but you may have to hunt down a 28 oz balancer with 4 bolt holes to use the late pulleys.
Gotta change to the Mustang oil pump pickup and pan. Note that that block may not have a dipstick hole in the block, it will need a pan mounted dipstick or such. Orig dipstick should be in the timing cover.
Otherwise it should work. I am trying to go the other way, putting a roller block into my carbed old school 82, and figuring out what to change.