Hello, found this site while I was doing some research.
1978 kc was purchased by my father 40 years ago, and has been in the family ever since. We just recently towed the car back to nyc from South Carolina, were it was sitting for about 15 years. Its currently being restored at a buddies local mechanic shop. At this point, it's stripped and awaiting to be sand blasted and painted. The plan is to get the car running and looking some what like it did back then for now... Since this will be a fun drivers car, reliability, tires, brakes, and suspension upgrades would be more of a concern.
We found a rebuilt 5.0 engine from a 1979 fox body for good price, which from what I read, is about the same 5.0 engine that was originally in the kc but less restricted. Many are not aware that the 78 king cobra was the first Mustang to be called the 5 point 0 (or 5 oh) and the first to wear the 5.0 badges. Now that the 5.0 engine is returned to mustangs, maybe the kc will gain a lil more attention.