In looking at the many posts from my fellow enthusiasts in this forum i can tell you they have offered some great advice already. Not to beat a dead horse, but the suggestions by "
[B]MikeGriese[/B]" are dead on - especially about needing to purchase and USE a pair of jack stands. Years ago, while in the Army, I knew a soldier who changed his own oil. He neglected to use a jack stand and ended up with his chest being crushed. He survived, somehow, but he had a long, painful recovery. Please, don't you end up like him - or worse.
Another member advised you to check the vacuum line leading from the intake manifold to your transmission vacuum modulator. You can get a vacuum tester (good to have one) and make sure the modulator valve diaphragm is not leaking. If it is leaking or disconnected from the vacuum line your 1-2 upshift will be late, very late, and when it does slam into 2nd gear it will be at a fairly high road speed (40 - 50), and it will either go into 3rd gear very late, at a very high speed (70 or more), or it may not shift into 3rd gear at all. Those auto transmissions are very durable, please do not be in a hurry to replace it with a manual transmission., If you simply MUST replace it, consider getting a later model Automatic Overdrive (AOD). But, unless you have a really good reason to do so I would stick with what you have.
The ignition systems on those 73Mustangs is quite simple. Unless you plan to do some serious track racing I would not bother "upgrading" it to an electronic system. Despite claims made by those who sell electronic conversion kits, the stock system is fie unless it has a worn distributor shaft/bushing, worn breaker plate, the vacuum advance diaphragm vacuum line is disconnected or connected incorrectly, or the vacuum advance diaphragm is ruptured. I have a few YouTube videos re: the distributor, vacuum advance diaphragm, vacuum hose routing, that I think would be well worth your watching. Over time I will be doing ever more videos with Lynda (wife), and I encourage you to watch those videos, and videos done by others, to learn ever more about your car.
I have a nice little library of electrical schematics that I have annotated, show corrections to a few publisher errors, and am willing to share with you. The file is too large to attach to this posting. But, you can get the same schematics, and other manuals (shop) that will be invaluable to you from Forel Publications at:
https://www.forelpublishing.com/clickbank/index.html
The various manuals are in PDF file format, and are very reasonably priced.
Malachi, I sincerely suggest you feel free to reach out at ANY time with ANY questions you have about your Mustang. Between myself and our other enthusiasts you are going to find you have tapped into a huge resource of very experienced folks. You are also welcome to email me at
[email protected]. I look forward to seeing photos of your Mustang, and hearing from you either through this forum, via my email, or both.
Here are some of the more relevant YouTube videos I put together re: the ignition system on our 73 Mustang Convertible's 302, which is very similar to your 351. I also attached an engine emission systems and vacuum schematic snippet from the 73 Shop Manual Volume 6.
I have a lot more videos on our YouTube channel (Gilbert Hale). Please feel free to peruse them to see what else I have that may be of use to you. And, if you have a question about something not covered in our videos yet,, let me know as often we choose to cover a video subject based on questions from other folks.