Yeah but what if he doesn't want to just have drag race power? IIRC most of the supercharger kits for the 5.0 don't come with an intercooler.

Personally I'd like to have about 300hp or so. I prefer n/a if possible, but a supercharger can also be had in the 2-3k range that will easily surpass 300hp.

Here is a link to a trickflow topend rebuild kit that is advertised to give 350hp/370ft-lbs. It's about $2k.
http://www.trickflow.com/product/enginekits/pr_enginekits.asp

These engines are easily buildable to make a lot of power. But then you've got to think about your transmission. The stock 5-speed from the mustang gt is only rated at 300ft-lb which is what the stock 5.0 puts out. So figure 2k in power mods and probably the same to get the rest up to par. Then I have no idea what the stock volvo diff can handle.

I'm just blabbing, not even answering the original poster's questions!

So what is your horsepower goal anyway?