I believe it was a 2001 Crown Vic that they did the swap in, along with a DOHC 4.6 from a Cobra. VERY expensive and involved swap ... but this was done for/by Bondurant Racing School, and they beat the crap out of those cars on a daily basis for a few years. I don't know if they're still running those cars down here, or if they finally ditched them.
Honestly, on second thought, you'd probably be money ahead to just get a better torque converter and a good shift kit, maybe a wide-ratio-built AOD if you've got the funds, than to go the T-5 conversion route. I mean, it's been done, so it's nothing at all impossible, but it's more of a uniqueness and fun factor thing than a MAJOR performance advantage ... although, again, you do lose a bit of weight from the swap.
Besides, you're going to have to throw a LOT of horsepower/torque at that AOD to really worry about breaking it, whereas a T-5 is going to be more prone to buckle under the strain ... especially when you're trying to haul 4,200+ of steel and iron off the line at WOT, y'know? And the lo-po 5.0 found in the old-school Panther cars is going to need a LOT of upgrading to justify transmission upgrades in either case - an H.O. swap, full exhaust, and some other body weight reduction would be a good starting point.