Yes you can use it, but.................if you building a motor with any kind of power get a scattershield. FMS one is under $300. Just my .02 if you want to keep you're feet (if clutch grenades).
mike.
Good call 5.0HOTrain.... keep in mind also mcjc00 if your making any kind of power with that 351W your going to want to seriously consider swamping out that T5 for a Tremec or some kind of built trans (G-Force T5, Richmond, etc. etc.). The old T5 wont stand up to too much abuse from a high powered windsor. If it's in your budget I'd definetly invest in a good trans. to support all that power. If it's a mild 351W you can get away with the T5 for a while...
Your 5.0 T-5 flywheel will bolt to the 351w but it is the wrong balance.302's made after 1981 are 50 oz while 302's made before 1981 and 351w's are 28 oz.You will have to buy an aftermarket flywheel with the right balance for a 351w or have your 302 flywheel balanced for a 351w.