I just got rid of my clutch fan. The blades were starting to crack and ready to come apart. Rather than spend the money for another one, I just pirated the EFan from a Taurus. Works great. Used as adjustable fan controller from DC control to hook it up. The install was really straight forward.
Car actually feels a little spunkier now and cooling isn't a problem. The fan hardly ever comes on and when it does, it's for about half a minute.
I did upgrade to a 150A 3G alternator previous to this and I wouldn't recommend swapping out to an electric fan without one. The factory 75A unit isn't even adequate for the stock charging needs. Get a big stereo, an electric fan and a set of underdrive pulleys in their like me and you'll end up walking home if you're not careful.
I planned on using the flexalite black magic, anything is better than what I have now. solid mounted flex fan. The guy who owned my car before me wasnt real bright. If your clutch fan works though its not as bad as it could be
i would go with a taurus fan or the mark viii fan with a dcc fan controller mine works mint with the taurus fan fan barely ever comes on unless in traffic and it cools insaneley good and fast
I agree with Brian's sentiments. If your OEM set-up needs restoring and money will be spent anyhow, one might as well consider the costs associated (decent clutches are not cheap) vs an E-fan, controller and alternator upgrade (and any related ancillary items).
If your existing system is in good shape and you're just kinda looking for a project, I would probably find something else to do. Now if you live in a super hot climate or drag the car, considerations might be different.................
If the existing components are showing some age, I probably would. A cracked stock fan blade at 6K RPM would be scary and the E-fan is nice for cool downs at the track and for idling in hot traffic (your stock clutch has probably seen better days and might not be as efficient as it once was).
+1 for the Taurus or MK VIII fan+bigger alternator...I ran a 130A 3G in my '84 and had no issues with a Black Magic, but the factory fans pull every bit as much air, have two speeds (with relays), and are WIDELY available at local junk yards or www.car-part.com
IMO, skip the E fan, it can become costly with little reward.
Rockauto has a motorcraft fan clutch for $80.
At speed, the mechanical fan uses very little power.
If this was your final mod and you have everything else you could buy, i'd say go for it, but to do it properly you are going to spend quite a bit if you want the setup to be future proof.
You could easily rack up a $400 bill doing an E fan, just to get a couple of hp.