Just to be clear the 4.6 bellhousing bolt pattern will bolt to a T-5 transmission? Well a conversion with something like that has other implications, like adapter to LT230 and how the BCM will act sensing the ZF4 missing.

 

No, not the standard 4.6-zf bell housing. There was a bell housing made specifically for the old 215 and a T5.

The ECU issues from what I've read on a factory manual swap should be... Fun, but I've considered an aftermarket ECU for other reasons also. However, AB (or Rovers North? Can't remember off hand) sells a scanner than will actually do ECU tuning and that might just be the trick.