There are many misinformed people posting in this thread, bearing in mind some of you actually know what you're talking about.
First of all, as said above by stangboy017, the Mach 1 is a different "animal" in the sense it has a 32v motor, as opposed to the GT and Bullit setup, which uses a 16v motor setup. If you're wondering, will a set of 4.10 gears in a Bullit allow it to run with a Mach 1, the answer is yes IF you know how to drive the car.
4.10 and 4.30 gear ratios are great gear setups for n/a 2v GT's, especially the automatics. Have you ever stopped to look at what all the fastest n/a 2v guys are running in their setups ? They're running no less than 4.10 gears, and some are running as steep as 4.56 gears, depending on their setups.
Ask yourself another question. How many n/a bolt-on GT's are running 12's in the 1/4 mile with 3.73 gears ? None that I know of. How many are doing it with 4.10's and steeper gears ? The answer is quite a few.
I drive my car almost every day with 4.30 gears in the rear, and I have no issues, problems, or complaints with them. They're great for around town driving, and the highway rpms are manageable.