Technically in the 80s they weren't even 5.0s. They were 4.9Ls...
The last 5.0 L engine was produced at Cleveland Engine Plant #1 in December 2000, as part of a build ahead to supply Ford of Australia. They installed their last 5.0 L engine in a new vehicle in August 2002.
For 1994, the Mustang underwent its first major redesign in 15 years. The new design, code named "SN-95" by Ford, was still based on the "Fox" platform, but featured dramatically new styling by Patrick Schiavone that incorporated some stylistic throwbacks to earlier Mustangs. The car remained rear-wheel drive. It greatly revived the popularity of the brand. The base model came with a 3.8 L V6 engine rated at 145 hp (108 kW) while the GT featured the "5.0" 4.9 L V8, which now utilized the 5.0L Thunderbird intake manifold.
In 1996, Mustang fans were expecting the 5.8 L (351 in³) V8 to make its return to the regular production. However, this is not what they got. The 5.0 GT engine was replaced by a 215 hp (160 kW) 4.6 L SOHC "Modular" V8 engine.
So technically the 5.0 302 was an available stock option from 1975 until 1996 when it was replaced by the 4.6L...
So yea..crying birch was right and yea...most of the above was copy/pasted from wikipedia...i just had to find out...
I thought it was interesting to find out that it is technically a 4.9L and not a 5.0
Here is question...when and why did auto makers switch from labeling an engine by its cubic inch (302) to its displacements (5.0L)???
Was this change triggered by the popular "5.0"?? It seems any car pre-1975 has an engine characterized by its cub inch and post-1975 its labeled by its displacement...