I think it's a great idea, especially considering I'm going to do the same. Here's my plan: I have an '88 GT that has the same 5.0/T5 combo every other GT had and I love it. My goal is to get my '68 to drive and perform like my '88. Since that's the plan and they both have 2:79 rear gears, I won't even swap rear gears, the T5 has a low enough 1st gear, and I'll install a Powertrax locker in the original 8 inch. I don't plan on dragging the car, so the 8 inch will be more than enough. My '88 pulls down 25+ mpg an has gotten as high as 27mpg, and since I plan on driving my '68, it needs to get good mileage. I plan to use the '68 style clutch assembly and the spacer plate to avoid swapping over to a cable-type clutch linkage, but lots of guys use the cable and are happy, so whatever you want would be fine.