I can throw in a little help here, I've recently replaced the C5 in my '83 GLX Vert 3.8 with an early '70's vintage C4. This is a mildly souped up 3.8 daily driver, it turns approximately mid 15's. It's pretty quick.
I couldn't find any performance C5 converters or shift kits.
The C5 torque converter and bellhousing are a full 1" thicker front to back than the C4 parts. This is bad because it adds a bunch more wieght in the worse place, the crank. The input shafts are the same, I had to reuse the C5 converter and bellhousing so the rear mount would still reach the tranny crossmember and so the driveshaft wouldn't fall out. I've developed a wierd growl under cold light accelleration lately and I'm leaning towards the converter, maybe this is the lock-up function never being used? It's driven a hard 75 miles every work day and it's been in for about 6 months. So I have bought a mild C4 converter and a HAL/QA1 tubular crossmember that can set the engine back 1". This along with the shorter C4 converter/bellhousing and the tranny will loose crank wieght, gain some stall, and still line up. The engine will move back an inch not the tranny moving forward. Not to mention my weight distribution will be even better. My factory single exhaust looks like it want's to move back an inch so that's no problem. It's pulling the mounts forward now, not sure why, sloppy exhaust work I suppose. I just installed a Ford Racing aluminum driveshaft due to u-joint failure, it couldn't handle the B&M shift kit and that heavy a$$ C5 coverter torqueing the shifts. The new driveshaft was 1" shorter than the C5 unit but it's working fine, it still had plenty of installed depth.
Vernon