tranny out.......

The stock t5 tranny is barely worth rebuilding. For a little more money you can buy a new one.

An output shaft is gonna be really expensive. 200 bucks at least for a new one. I would say 1,000 bucks to have shop rebuild it.

I would consider buying a T5Z or Tremec. Maybe you can rebuild it yourself? It's not very hard.

Save yourself the hassle and just order a new tranny. That way you know everthing will be done to factory specs.

If the DYI transmission fix idea isn't something that you would rather leave to someone else, here are some resources:

See http://www.ttcautomotive.com/English/onlineorder/product.asp to download a FREE service manual for T5 or Tremec 3550
You will need the Adobe Acrobat viewer which is also a free download – http://www.adobe.com/products/acrobat/readstep2.html

See http://www.ddperformance.com/index2.htm for parts
OR
http://www.hanlonmotorsports.com/

A T5 rebuild kit with syncros, bearings and other small parts costs about $160. It does not include any gears or shafts.

There is a video on how to rebuild your T5 or Tremec. If http://www.hanlonmotorsports.com/ are out of stock see http://cartapes.com. It costs less than $20, and is worth every penny of it.

I did a Tremec 3550 rebuild, and it wasn't that difficult. The video was an immense help, and I would recommend viewing it. At $20, it will give you an opportunity to look and decide for yourself if you think that it is something you want to try to do.

The tricky part is that you will need some shims to adjust the endplay in the two shafts: the new bearings will change the clearance. There is no way of telling what it will be until you get to the point that it is time to measure and check the clearances. Halon has the individual shims if you can wait for them. If you can't afford the wait, the auto parts store can sell you some shim stock and you can make your own, or have a machine shop make them for you. The shim stock comes in brass (easy to cut) and steel, in varying thicknesses.

Getting the car jacked up high enough to get the trans jack in and out from under the car was somewhat challenging. Since I didn't have a helper, getting the trans out of the car and back it was one of the more difficult things about the job. At 100+ pounds the Tremec 3550 was far too heavy for me to lift by myself.
I built a trans jack out of 2x6's, some angle iron and a $25 floor jack. If I hadn't done that, I would have needed a helper or to rent a commercial trans jack.

The T5Z is another name for the world class T5 you see in Jegs. It has a 2.95 first gear compared to the stock 3.35 1st.
I think it's rated at 330 lbs of Tq.

It's a good tranny for the price. And a direct bolt in.

OR a Tremec though you'll have to buy a bellhousing, driveshaft yoke, and possible new clutch if you opt for the stronger GM type input shaft...(Think it's 27 spline). OR you can get a TKO 500 with the regular Mustang 10 spline input shaft and use your exsisting clutch. The 27 spline input shafts are rated at 50HP more than the 10 spline input shaft.