Drive-shaft bolts fell out, the engine overheated, but this is due to racing other than that nothing has gone wrong.
A very fun car to drive mine wasn't completely stock it had a edelbrock 650 cfm carb with an edelbrock air gap manifold I really missed this car if I ever have the opportunity to buy another on I will.
How was this car on gas? I am currently looking at buying a car much like the one you described with an eldebrock carb on it. and how hard is it to drive in the winter? and up hills as other people have said it doesn't go up hills very good.
Back in 1987, a buddy of mine bought an '83 Mustang GT 5.0. They look dated now, but in the mid '80s having a Mustang with a 302 5-speed was pretty awesome after suffering through the dogs, in terms of performance, of the mid to late '70s and other early '80s cars. Of course we drove it like irresponsible young A-holes, but at that time there wasn't a lot that seemed to be able to keep up with it and it was an insanely fun car.