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The engine specs sound pretty good. The cam may be a bit radical for EFI. The MassFlow may handle it, but the idle vacuum will be pretty low. I have 236/242 duration in a 347 and a MassFlow system. It idles OK. I have 12"Hg at 850 rpm idle.
The MassFlow EFI uses a 9AL EEC-4. Make sure the cam shaft in the engine has the same firing order, as a 89-93 5.0 Mustang.
There should be a chip to tell the computer the correct engine displacement, MAF, and injector size.
The ignition module (TFI) located on the distributor does eventually break down from too much heat. In later years, Ford moved it to a heat sink on the fender well. I moved mine. The distributor is too hot to touch and the heat sink is about ambient temp. It would be fairly easy to do prior to the install. There are instructions with pictures on the net. You can find it with google, if your interested.
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