depends on what clutch you want to use
if you want to use the stock bellhousing and clutch from the 2.3, you can use all the V8 internals, BUT you will want to use the 3.35 gearset from an SN-95 V8 Mustang. The input shaft is longer so it will reach into the pilot bearing, although it's still shorter than the stock 4 cyl input shaft it will work. You will need to have the pilot of the input shaft ground down from .668 to .590 to fit the 4 cylinder pilot bearing. This is what I have in mine.
There is another option.
If you are in need of a clutch, and you are making some appreciable power, you can buy the adapter and flywheel from Stinger-performance and that setup allows you to use a V8 T5 bellhousing and clutch. The V8 clutch is 10.5" diameter and has a ton more options than the 4 cylinder 9.5" clutch. This method will get a little expensive, however and will also take more time to get it all set up properly as far as indexing, etc. With this setup you can use any V8 fox body transmission 2.95 or 3.35 either one. For me, that is the problem....ain't no V8 fox body parts available locally, period. All hoarded or all scrapped 15 years ago. Almost nobody here enjoys this hobby (sickness).
Another issue is that with the 2.95 V8 gearset, you may want to change the rear gear to 4.10 at the minimum. Maybe 4.30. Mine is 3.73 with 3.35 V6 transmission (.73 OD) and sometimes I wish the original 4 cylinder trans was still in it. That setup was 3.45 with .78 OD. If you have a 2.95 V8 T5 with .63 OD, the little 2.3 doesn't have enough off boost torque to pull the .63 OD, so you really need rear gears. Then at that point, first gear gets a little "short".
