hey i think that your car would work good with that turbo, and if there is too much lag you can always hit it with a small shot of nos to spool it quiker. as for the turbo header and things here is a site you may want to check out it has really good photos of a cartech turbo install on a 91 LX 5-speed i am thinking of going with a turbo also on my 94 347 stroker but a single turbo header for a mustang is atleast $600. so i bought a header flange for a 302 and am planing to make my own turbo header the one you see on this site would be really easy to make so maybe check into that hope this helps good luck!
http://gcoast.com/project50/index1.html