Don't pay any mind to that number, HP is easy to find with an SC. The factory exhaust system isvery restrictive, which coincidently is one reason so many blow head gaskets. Factory pipes hold about 15 PSI at WOT redline to give you a clue. Flowmaster got just over 50 HP on thier dyno with a cat back on a '90 model. The heads have only 4 bolts per cylinder and are aluminum so to keep head gaskets in these motors with boost you have to be meticulous. The gaskets are Graffoil so they will corrode with weak coolant levels, another reason so many are blown nowadays, people don't keep it fresh. Overheating, running lean, running low octane fuel, etc etc. If you keep it right or set it up right and then keep it right they will last, if you slip one time they are toast.
By the way did your SVO put out 315 ft. lbs stock? How about 450 ft. lbs modded? Horsepower sells cars, torque wins races. I'm not knocking your SVO they are my faivorite Mustang but don't worry about being slow if you're good with forced induction tuning and Fords.
These cars are heavy, a lot heavier than your SVO. Weight is loseable though. The suspension is much more sophisticated than the Mustangs and it doesn't feel as big and heavy as it is on good tires when everything is in working order. The '89-'90 SC handle the best and by '94 they got soft on handling. All swaybar related. If you look you can find early years with low option contents. All have elec windows and cruise, but sun-roofs, keyless entry, electric/leather seats, auto A/C and lighting, JBL stereos, etc add more wieght to a heavy chassis. 2nd gens are almost all loaded in not all. Sticks wiegh less than the AOD's
Almost anything for Mustang EEC IV can be adapted to the SC's, mass airs, injectors, throttle bodys, chips, tuners, etc.
The 2nd gen SCs '94-'95 are the rarest and got the new Ford style interior with air bags (no more choke belts). They also got a blower improvement along with a slightly improved fuel injection processor. HP went to 230 stock. The body was redone along with all T-birds in '94. The trannys auto and stick both recieved revised gear spreads in '94 also.
If you get one you'll have no problem getting advice here and a few other places. Some of us have had these cars for over ten years now. Many upgrades are reatively cheap but then some are extremely steep.
Most of the quickest SC's are autos but a 5-speed car will go faster with fewer problems. Autos can launch harder with the IRS (wheel hop) and the 5-speeds gear spread is flat out rediculous (F150 trans) but they are more fun.
If you get an 1st gen you'll spend more to get it right than if start with a 2nd gen. But 2nd gens are rare especially with a 5-speed. Look for low mileage and good maintenance first as these cars can go downhill fast in the wrong hands. '93s got the better less trouble prone ABS so they are a good year in the 1st gen. '89 5-speed cars had the best factory cam, probably had a little more HP than advertised. They scored the Motor Trend car of the year award then pussed out.
Be warned they are extremely maintenance intensive, figure on at least one saturday afternoon a month, more in the first year to get it up to specs and improve performance. You'll learn all kinds of things if you get one but we're here to help get you going. If you want a car that you can beat on without worry then don't get one. If you want a domestic exotic that can perform as good as anyone else once you master it then come on over.
Vernon