I have had a couple 5.0 mustangs, and there are things to watch for, and to know...so in my experience..
Early 90's 5l had very few changes, however, in regards to the ecu, they dont run correct if you have a manual tranny and an auto ecu and vise versa.
If you have a manual, I think I recall the computer to have is the "A9L". The exhaust manifolds are the most restrictive part on the engine. If at all possible, when fabbing your exhaust, mix in an "x-pipe". I have a magazine from wayyy back any they did a dyno comparison on h-pipes vs x-pipes, and the bassani x-pipe made the most peak power and more importantly, make the flattest and fattest tq curve on the. O2 sensors are very important to have in the exhaust, and extremely important to have in the correct location, or you will likely get a dopey car and a CEL.
Check the timing, you can run regular grade fuel to 10 degrees BTDC.
The E7TE heads are gay. There are tons of cheap and used iron and aluminum heads out there that will make significant power over stock. One of the best/cheapest heads are the gt-40p heads that came off the 5.0l explorers. Also, the intake is weak, and the cam is weak.
These engines can make a pretty easy 300 whp with light bolt ons.
oh, and 86-88 5.0l cars were speed density but built with forged pistons oem, in 89 the engine went to mass air, and in 93 the engines dropped their forged pistions for hypereutectic offerings. In 94, the rated power dropped to 215hp only because of "a new way Ford rated their powerplants". Also, in 94 the intake was a built with a lower profile to fit under the strut tower brace, but it was the same intake that was fitted on the 89-95 t-bird/cougar combo when optioned with a 5.0l. Also, 94+ computers are harder to work with than the previous generations ECU.
the stock shortblock even with the pathetic pistions is good for about 400 hp.
Valve cover gaskets almost always leak, and these engine usually need a rebuild by 250k kms....after all, there are lots of stoplights in calgary and when you stop, you always have to start again