restoring a 64 1/2 mustang k- code

Well, if nobody else is gonna answer.....

It's your car; you do not have to worry about anybody else says about what you do to it. Besides, nothing you've posted is an irreversable mod. Having said that I'll also say that, should you ever decide to let the car go, having the original parts (that your replaced in your upgrades)on hand could result in you collecting a major chunk of change over what the car would be "worth" in its modded state.

To that end, may I also suggest that you look into the user reviews on the Borgerson integrated power steering box; rather than the old 'assist ram' original system. Less potential for cylinder leaks, P/S hoses not spaghetti'd around between the headers (should you get headers) and the speed bumps and debris on the road....
Bolts right in to the existing holes. The downside is that the early stangs had a solid, fixed shaft that went all the way from the steering wheel to inside the box - that's not going to work without major irreverable mods to the column and shaft. Just go with a '68 column from a junkyard or an aftermarket like an Ididit and mod away.... again, keep the old stuff intact just in case you someday want/need maximum cash for the car.

I say ditch the generator for an alternator and get some better exhaust if you want to. Just save all the original parts for the car.

What kind of mufflers were you considering? I would say go with Dynomax or Magnaflow or 18 inch or longer glasspacks and 2.25 inch pipe. You could also add an H pipe.

If it is really a K code, I would keep the HiPo manifolds.

I wouldn't upgrade to power steering, but thats just me.

I agree with StangDreamin, those mods are easily reversible so do as you please.

I have a 64 1/2 K-code coupe myself, matching numbers and completely original but in need of a restoration, and I am probably going to do some minor mods as well. Probably an alternator, and Pertronix ignition. I am also tempted to try the Le Mans cam but still undecided on this. And I will probably change the rear end ratio from 3:89 to 3:50 to make it a bit more highway friendly.

Mine is a very early k-code, built in June 64, but despite that it has adjustable rails on the passenger seat. Black on black with no options except for the stuff that came with the k-code option - and an AM radio that works but is pretty much useless...

God I miss driving this car, its been stored way too long now.