MY CLUTCH?????

ok. when i drive my 95 gt it runs fine, but when i push the clutch in you will hear a little whine or whistle noise and when you let off of the clutch, theres no sound. yesterday i was at a stop light and had my foot on the clutch then i felt the clutch pedal go in even farther. when i took off i heard a weird sound so i pulled into a parking lot. when i turned off my car i smelt a burning smell and when i went to turn on the car there was a really LOUD squicking/whining noise. it will go in gear fine but if you try to move it, you have to have the rpm's high and let off the clutch for it to move and when you let off the gas and the rpm's go down it dies or wants to die unless you rev it. i have the money to fix it whatever it is but i just want to know if anone has had or know anyone that had this prob??

also if it is the clutch. should i buy this kit from jegs....
includes:
Ford Racing Cast Iron Flywheel
Ford Racing ''King Cobra'' Clutch, Pressure Plate, and Throw-Out Bearing
Clutch Cable and Quadrant
Clutch Fork
Pilot Bushing
Pressure Plate Bolts and Dowels
4 Quarts of Redline MT-90
555-60100K 5.0L Complete Clutch Kit -$438.99
OR
this kit from summit....
includes:
Brand: Ford Racing Performance Parts
Product Line: Ford Racing Clutch Kits
Input Spline Quantity: 10
Input Shaft Diameter (in): 1.062 in.
Disc Diameter (in): 10.500 in.
Disc Diameter (mm): 267mm
Disc Material: Organic
Disc Style: Sprung hub
Pressure Plate Style: Diaphragm
Throwout Bearing Included: Yes
Throwout Bearing Style: Standard
Alignment Tool Included: No
Pilot Bushing Included: No
Flywheel Included: No
Counterweight Assist: No
Mounting Hardware Included: No
Quantity: Sold as a kit.
Notes: This is the King Cobra kit.

Clutch Kit, Organic, 1 1/16 in. Diameter Shaft, 10-Spline, 10.5 in. Diameter Disc, Ford, Mustang, $184.95

thank you for your time and input!!!