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Paul, regarding the top loader lever, you should have the OEM style Ford Mustang lever and it should be reversed. I've attached a photo of my car's lever as an example. The lever in the photo is in neutral, and I have pushed the boot down so you can see the bend. If you have a OEM style lever that is not reversed, then an easy fix is at hand.
I'm not sure about the 3rd gear issue, if you have reached the extent of adjustment on the rod. The rods are adjustable at both ends, I believe. I had this issue with a Tremec on my ERA and I had to go to a leather boot to avoid the spring effect of the rubber bellows.
Sam
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Exes: ERA #745, CAVGT #180, Kirkham KMP0268, SPF GT40P2306, '05 Ford GT #1605, Exact 008, Kirkham KMP0928
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