It is the same setup that I have on my 65 Fastback, and it is great. Consider using Evans waterless coolant as it will lower the Psi of the system from 16 to 7. This means hoses will last longer, has a much higher boiling point, no need to change the coolant for at least 10 years, and you don't have to worry about corrosion between dissimilar metals. Just a thought since you will be putting in a new engine, and all new hoses.
US NAVY VET - 65 Custom Fastback GT-A-code. FiTech EFI w/Tanks Inc. w/Aero 340 LPH pump, TCP Power R&P; Full front coil over conversion w/1" Shelby drop; TMI Sport R custom interior; T5 TKO, Speed Hut custom speedo; Autometer Phantom gauges; SSBC Force 10 -13" disc brakes w/10.5" rear disc brakes; 24" Griffin Radiator w/twin 11" 2800 CFM fans; Classic Auto Air AC; Truck-Lite 7" LED headlights; Mustang Project Shelby LED sequential taillights. 2001 Bullitt rims w/Nitto NT555 235x45x17 tires.