My buddy just bought a '92 5.0, and we're trying to figure out and estimate of rwhp. He has Trcik Flow Intake, Comp Cams, CAI, Pullis, Headers, H Pipe, and 3.73 gears.
220-225, without a set of heads that cam (you did not indicate the type or cam specs) and intake are pretty much just for show. The CAI is not a mod and you didn't indicate the header type (lt, shorties, equal lenght.)
I made 245rwhp, 292 rwtq w/: Gt-40 intake, underdrives, cai, equal lengths, off road, flowmaster, stock cam and heads, thats with a junk 95 computer. I would assume 5-10 more if its running correctly.