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I was going to ask the same thing. Weren't most of the DragonSnake cars 289 Slabsides? FFR makes a 289, but I thought it was an FIA.
were you planning to use the Mustang as a donor, with the 302? Converting from a 302 to a 427 will be more work & money. Remember, your '87 donor parts are now 30 years old and many are worn out or deteriorated: radiator, fuel tank, brake parts, steering, and wiring.
If you're interested in Drag racing it, I'd look at a FFR 289 body with a Coyote. A supercharger would take it into serious drag racing status, but you're going to need a significant roll cage and safety equipment for it.
Nothing as fun as tearing up the twisties for a couple hours.
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