go with gears and he should check out May or June issue of 5.0 Mustang they have a big thing on building power in the 99+ V6 stangs. I would think that in a 6banger you should put 4.10 gears in you wont get the same tire spin with the v8 and wont lose that much as far as mpg compaired to the v8.
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RIP Tim. i miss you, buddy