From what I can read your cam is very close to what I have in my engine. It will be expensive to drive on the street,no doubt.Not sure what intake that is? dart?My engine makes peak power at 6500 rpm,yours will likely make peak at 7500 rpm.
your intake and carb likely work best from 3500 up,so launching the car will be a pain.Hope your 1st geat is lower.I bet that carb flows over 1,000 cfm.
I think you will need about 22 degrees initial timing and all in by 2500.about 35 degrees total.It should idle at 950 to 1000 rpm.no idea about jetting because the carb will flow more than the 850 it started with.
You will at some time need to book some time on a "mustang" chasis dyno( or another dyno that can load the engine and powertrain) dont bother with an inertia dyno.
you will need a few booster venturis,jets,air bleeds etc when you tune it. other than 0 to 15 mph it should drive fine.If you road race it then its fine. Gearing will be sugguested to you by someone and this time I will probably agree. I went to 3.50 gears but I also have o/drive so I didnt lose anything. use a speed calculator and 2500 rpm as a cruise rpm for that engine.
hard to drive race cars on the street