I can share what I did I think it also applies to a 351 but I have a 302.
Installed a used C4: plus side -fits right in, everything lines up downside - it only lasted a few months before total rebuild needed, was very expensive and difficult to find
C4 parts 2: rebuild parts are cheap but not easy to get anymore. I rebuilt it and it was fine but it is really no better than the 3 speed manual I took out in terms if driving experience.
Switched to a 4R70W out of an Explorer: plus side it was dirt cheap at $150, last forever, lower 1st gear and overdrive 4th. Downside - needed a NP205 transfer case ($150) and transmission controller ($350-$500) plus a new trans crossmember (I made my own) and updated driveshafts.
If you plan to drive it I would spend the money on the 4R70W upgrade I was really sorry I spent so much on the C4 to buy it and then rebuild to have it be disappointing.