Be advised....don't throw too much beer goggled money at the proverbial ugly stripper. Those rad transmissions are junk for any kind of performance use. It's the reason why almost every II used for performance has either a T5 swap or an auto.
Unfortunately, the M2 rad transmissions behind a V8 are a grenade with the pin pulled.. As Elmer Fudd once said.. You have to be vewy..vewy.. caewful not to damage it.
Any driving/shifting for acceleration contests will be it's downfall. Even the torque load with the revs up in first or second, with a 302 flexes these things like a 600 lb man on a rubber tricycle.
Ford put a decent 8" diff in V8 cars, but left the basically V6 trans as good enough, which has always baffled me. I think they figured the 302's 4 cylinderish 140 HP would not be able to damage it, but It's the torque ..not HP.. that kills these transmissions.
Drive it easy like a regular commuter car, and keep your foot out of it and it has a limited chance of survival.
...I say limited... because, as we all know, a 302 and a 4 speed in a mustang 2 is a lot of fun so it's literally asking to be driven harder, a little gas off the stoplight, oh-yeah... shift....tromp....bang!..clank....hey.. why won't it stay in second??, whirrrrrrrrr..ding..ding..tick...tick..tick..and... whats that weird noise??......hence the fate of almost every 2nd gear in every M2 trans behind a V8......good luck!