The offset of the balancer will still be wrong, even if the bolt count is correct. The register of the pulley to the balancer will also most likely be different. Use an FMS# 6316-K351, it has the right pulley register and offset for the serpentine system. It will come with the correct timing pointer, too.
Since you're planning to go serpentine you are planning on using a reverse rotation H2O pump and a compatible timing cover, too, right? Source the pump as 79-93 5.0, same goes for the timing cover. You can buy the cover new from FMS, Edelbrock, Summit and a few others.
If you're still interested at this point remember you have to use the right brackets, too. Source? 79-93 Mustang, of course. March Performance sells setups for any combination, from nothing but an alternator to all the options, like AC and PS.
Simple right?
