There was an article years ago in Hot Rod magazine if I remember correctly. (I was a teenager then, which was a long time ago.)
It said something like:
"If you are to inexperienced to build an engine yourself, buy a Chevrolet. Everything that can be done to them has already been done and you won't need to think for yourself when it comes to parts selection or building them."
At the time to me that meant if you are too dumb or lazy to build anything else, take the easy route and build a Chevrolet.
Being easily impressionable at the time, that one little statement steered me toward Fords and Mustangs forever.
So, I vote that you save the 350 for a possible future Camaro build (competition companion for your Mustang
) and maybe look into a 351W replacement engine for your Mustang. You can bore and stroke it to 408 - 427 cubic inches and get just as much or more power and not be ostracized from the Mustang community.