Here is a combo a guy I always saw at our local Mustang shop had. It was solid and smooth. I remember a lot of the details cause I always thought about duplicating it. Simple and failry inexpensive parts.
AFR 185 heads
Comp Cams 274HR cam
Edelbrock RPM intake
70mm throttle body
1-5/8" shorty headers
C&L 76mm MAF
His car made something around 365 rwhp on a Dynojet behind a 5 speed and was tame. So that is roughly 415 flywheel hp. Drove like a stocker.
Almost my exact same combination except I chose 24 lb injectors. Probably have to go to 30's later (already had the 24's)...engine is not in/running yet. Still gathering parts and hoping for 350 HP at the flywheel...or at least thereabouts. That should be plenty-at least for me.