I did a Fairmont 5.0 swap using a tbird HO motor. I used this board and others to research what some of the issues might be. I'm no expert on the truck engines, but I think the shortblock would basically work. Here are the issues i see.
Truck engine is not the same as the HO motor. It uses different cam and firing order among other things. Intake manifold may not fit under the hood, and I think oil pan would need to be swapped. It's not the greatest swap canidate. Your transmission would also not hold up long behind a V8. If you're serious about this, I would look for an HO motor and
trans. I would also try to find a Mustang HO engine harness and ECU.