The upper intake will be the restriction. Run fine for a stock 351. Idle, low and mid speed will work. Any plans to warm things up and the 5.0 upper intake will be the choke point. Even Ford quit using that intake and made the GT40/Cobra/Explorer intake with the round ports. So much so that the Explorer got it even though it wasn't a HP motor.
The stock mustang throttle body will work pretty good. If doing anything, find a junkyard throttle body off a 5.0 Explorer. It's a little larger.
There is a down side to too large of a throttle body. Poor drivabality. Tip in response. The transition from idle to just off idle sucks. A large throttle body can't regulate low throttle settings. Either it is restricting air (idle), or flows so much (for an engine at idle speed) that it just goes into power. The throttle switch will turn digital, on/off. For a racer, could care less. For something that you want to drive to the store, idle around the parking lot, go through the drive through, pick kids up at school, it sucks. Trying to drive off-road in a technical manor, sucks. Idles, lurches off the line. I've had it several times over the years of trying to go larger and make more power. The 70mm BBK throttle body on the 330" stroked 5.0 was the worst. Couldn't even hold a steady speed on the highway. The slightest tip in and you would accelerate. Back off just a hair, goes to idle, slows down. Fixed it with a junkyard 65mm Explorer. And never felt a loss of power, even at 6000+ RPM (it also has the better flowing explorer intake)