Join "Super Coupe club of America" It's really a cult car club. Everything that has ever happened to a SC has been discussed there. Lots of them run 12's and a good many run 11's. They spend a lot of money doing it too.

MHO You already have most of a V-8 so I'd go with a SBF. You can get a good bit of power out of them and since the V-8 was in a lot of T-Birds it will more or less fit. You will need a hood scoop or a big bump to use aluminum intake and good carbs. Some of the electronics will more or less bolt on.

The SC was one of Ford's better ideas that they let get away from them. It was a heck of a road car. I drove mine well over 200k with out too much trouble. The ABS unit was a problem but SCCOA has solved that too.