[Jack21]

Cal, given the two gearsets available for the T5, the 2.95 first is the close ratio set. And is only available as an aftermarket retrofit gearset, or a complete new transmission, the T5Z. And even the T5Z is available with both wide ratio (3.37 first), and close ratio (2.95 first).

Close ratio T5's were not installed in any production cars, so forget about picking one up in a wrecking yard.

Keep in mind that the factory Stangs had 2.74 rear gearing which explains the wide ratio first in the trans.

Agreed, true close ratios in the 4 speeds of yore had 2.20 first gears, and were coupled to 4.11 rear gears. Don't think the cars could go much over 90 MPH top end, and were totally impractical on the street, but thats what guys were buying in '57 - '63.

Ernie. Now for the fifth or overdrive gear. Stock, over-the-counter fifth gear is a .62 in the stock T5's, and T5Z's. Optional gearsets that can be retrofitted is the .80. (And there may be others like a .75)

Keep in mind that for mostly stock Stang use, given the tall rear gearing, very mild cam, and EFI; 70 MPH cruise at 1600 - 1800 RPM in fifth is fine. Not so with a Cobra (or modified Stang either). Modified Cobra engines like to be kept over 2000 RPM when cruising. (My 351W pulls like a diesel from 1100 RPM up, but is happier as revs get near 3000 RPM. Can go into fifth as low as 40 MPH, and not have to downshift for passing unless I'm in a hurry.)

Fortunately, T5's enable you to dial all this in. (Tremec's, unfortunately, do not.)

There are a lot of guys out there running Tremecs for their alleged strength over the T5Z's who are not overly happy with the gear ratios available. For over 400 cubic inch applications the Tremec may be a good compromise (provided you've looked at the Richmond 5 speed also). For 302, and 351 motors, including strokers, I think the T5Z (with the gearset you want) is a better way to go.

Discussed this at length (T5Z vs Tremec for the street) with Liberty Racing Transmissions who I bought the blueprinted, .80 fifth trans from. Joe Liberty has been doing this for 30 years so he ought to know. The T5Z he blueprinted for me shifts like a Honda. It's phenominal!

The way I drive, the trans will likely last 100,000 miles before rebuild time. If I go the 393 stroker route, or break it horsing around, I'll be talking to G-Force about a gearset and bearing upgrade good to 600 HP for the T5Z.