For every weekend racing I say no if it is aging!! I would say, depending on which T5, 325 hp is about it at rear wheels!! However the most important thing is torque that is what kills the T5 along with hole shots!!
Yup, the older a T-5 gets, the more it wants to grenade itself. The T-5 out of the 94-95 cars is supposed to be the same as the world class T-5, but we blow ours at about the same rate.
The 342 I had fried my T-5 pretty quick and the second gear synchros were pretty toasted too I guess powershifts didn't help toat too much... it liked to pop out of second under full throttle sometimes... I would save up some money for a real tranny