The Wagon was a 3 spd non OD setup originally, and the T-5 cost me a case of Beer, so it was a no brainer. I even got the driveshaft from the fox body Mustang with it, and was able to use it with a 1" spacer on the rear axle pinion flange.
As to the ride in the backround, it is a 1950 New Yorker, it WAS a straight 8 Fluid drive car, but it was pretty slow, I mean REALLY slow. I swapped in a 505 Cu In 440 with 12.5 to pistons, tuned for E-85. Used an Ultrabell bellhousing on a 518 Auto OD trans from a small block Dodge, and a Dana 44 from a 1980 International Scout (Correct width, and 5 on 5 1/2" Bolt pattern like the original) added disc brakes all around, using GM calipers and Ford Bronco rotors. Car has about 20K miles on it since the rebuild.