True about the tranny stuff....make sure he gets a 255 intank pump, some larger injectors and maybe a T rex if he doesnt go with the intank. If he's treated the car nicely (ie hasn't beat the hell out of it) and has given it regular oil changes and there are no issues right now - it should be okay if he doesn't pulley it for 16 lbs and gets it tuned conservatively.

Just an FYI - the 93 was the first year I do believe that Ford quit using the Forged internals. If he's going to get into the motor, he might as well make it a bit stronger since its already apart.