Fullsize trucks used a different 5 speed, but it could be used behind the 194-292 type engine because the bellhousing pattern is the same as the V8. Not sure if the gearing is better or worse than the T5...
Not all 4 cyl or 2.8V6 S10's used the 4.03 first gear. You really need to be careful when selecting a T5. Rearend gearing and tire size will definitely play a part in how the truck responds. Camshaft size is also important. If you change to a rather lumpy profile, the shorter 1st gear will help to lauch without stumble. Just something to consider...
There are websites out there with gear calculators which could help you see what rpms you would be dealing with.
