Don:
When I built my 427 SO, I used Eastwoods Black (10017Z) and it went on over a bare and very, very clean block. Use plenty of lacquer thinner, clean rags and compressed air to dislodge the lint and you will get a great finish. I am very happy with its durability.
As far as color, a 1965 Ford FE would be properly BLACK. As I recall, Ford Dark Blue was used on the late 1965 and later Galaxies and Mustangs.
There are several folks on this forum more knowledgable than I, so they may want to weigh in, also.
Bud