255's are too narrow for a 9.5" wide wheel and the rims will stick out noticeably further than the tires. 265's would be better, but I believe 275's should be minimum and 285's or 295's likely your best fit.
A 295/40/18 or 265/45/18 is the same height as the factory 235/50/18 tire, so maybe put 265/45/18's up front and 295/40/18's out back.
For really good dry and wet traction for all season high performance driving, I recommend the Pirelli PZero Nero M+S. I bought them for my 03 Mach 1 (275/40/17's) and they got better traction in the rain than the factory tires on dry pavement and snow traction was OK (although, not great). Very affordable tire, also, and bigger sizes are readily available. These should not be confused with the standard Pirelli PZero that comes standard on Mustang GT's with the 17's - those are crappy tires. The PZero Nero M+S is a far superior tire.