A two valve will fit but you'll be "influencing" the shock towers with a big hammer. The 4V will fit but you have to cut the towers back, ala old drag racers tricks.
Given the choice between original suspension and Mustang II shown above, I'd go with the original with a good aftermarket rack steering system. Cutting the towers out completely is not a good thing in my opinion. Just because it fits doesn't mean it's better - and that goes for every modification.
Send me an e-mail to
dave@dvsrestorations.com and I can send you an article on how to cut the towers back. If you are trying to keep your towers complete, the 4.6 is not the way to go.
Dave Stribling
DVS Restorations, Inc.