Yes, you can put an aftermarket handle on your stock shifter. If the handle is shorter, it will effectively shorten the throw for each gear. However, the big problem with the stock shifter is that it is vague, and does not have positive stops. This means that when you really get excited, and bang some hard shifts, you can actually bend the shifter-forks inside the gearbox.
If you ever get a chance to stir a pro 5.0 (or probably most other aftermarket shifters), even with the car standing still, you'll probably be convinced that it makes a lousy shifting transmission into a very nice one, and its worth the bucks to get one. I love mine.
A forum community dedicated to Ford Mustang owners and enthusiasts. Come join the discussion about performance, production numbers, VIN decoders, modifications, troubleshooting, power adders, DIY tutorials, and more!