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Personally I would not deal with the hassle of putting a late model engine into a classic car. Plus the modulars are massive and the 66 couldnt really fit anything that big in its engine bay though im not 100% positive if the 4.6 would or wouldnt fit. I remember reading an issue of Mustangs Monthly where some actor had a 66 or 67 with a late model motor in it. You might want to look for that it might have some info in it about how to go about doing it.