WHat's the best donor late model for a 65

If you are keeping it EFI, then yes 89-92 are the "best". They are Mass Air Flow ('88 also in CA) and they have fordged pistons. All 87-92 5.0 HO's have forged pistons. In '93, Ford went to hypereutectic pistons. Nothing wrong with them though. Saved Ford money. They don't take as much boost or nitrous as forged do before failing.

There really isn't a "best" 5.0 engine. Just differences to consider given your intended useages.
 
Don't worry too much about the 93 hypereutectic pistons if you happen to find one in good shape. First of all almost any donor car you find these days is going to need a rebuild in the near future anyway and you can put any piston you want in at that time. Secondly, the hypereutectic pistons are much stronger than most believe and really are not much of a concern to most people. We had a stock 93 coupe with heads and an ATI Procharger running 17 lbs f boost making 507 RWHP and never had a problem with the internals. The head gaskets were a problem but not the pistons.