Joined: Mar 2008
Location: Lawrenceville, GA
$400 for a gear install is reasonable if the mechanic you're taking it to does good work.
Gear & tire selection should be carefully thought out. For example, shooting for low 11s means 120+mph trap speeds which will have you turning close to 6700rpm at the traps, if you stay with 4.10s. If you're looking to run a power adder/nitrous to get there, you'll need to build the engine internals anyway, so while you're in there I would upgrade the valvetrain to handle 7000rpm.
Alternatively, you can run a 3.73 gear instead, with the 120mph trap speed as the final goal to cross the line at 6100rpm which will be easier on your valvetrain if you decide to keep that part of the engine stock. Personally this is the route I would take because 3.73s are better for highway cruising. You shouldn't have any problems selling those 4.10s if you decide to do this.
A third option is to purchase 28" diameter rear tires (275/60/15 for example) to raise the effective gear ratio. The car will behave like it's got 3.73s even with 4.10s installed.
Either way you will need a dedicated set of wheels/tires for the track. Sticky tires that will yield 11s with minimal effort won't be suitable for the street.
I do agree with what's been said about gears and suspension. LCAs, subframes, and 3.73s or 4.10s will set you up with a better foundation. Then I'd start saving for a stronger rotating assembly. IMHO head/cam work on a 2v (and most other engines) is a waste. You will get much more for your money with a blower/nitrous.
2007 Mustang GT/CS coupe
Procharged--cammed--Lito tuned--coilover suspension