I have the serpentine system off of an 88 thunderbird on my system, I am using the thunderbird power steering pump and a 3G alternator, and a sanden air compressor. with a reverse rotation pump on the old timing cover, I am even running a mechanical fuel pump too.
No overheating problems? The timing cover coolant ports are shaped differently for standard- and reverse-rotation pumps, sometimes causing overheating.
Nope they were made that way from the factory, they didnt change the timing cover untill the 90's. Originally my timing cover didnt have the boss knocked out for the mechanical fuel pump, I also had to drill out for the dipstick, but the timing cover is pysically the same. The cooling passages are the same the only difference is in the impeller in the waterpump itself.
The timing covers and pumps were revised for the 1986 model year. This resulted in an 11% increase in cooling efficiency. (Ford's numbers via the Mustang 5.0 book) You're essentially running the 79-85 Mustang setup.