The whole idea is to get away from the aussie box, the T5 in standard form will take 300hp and can be beefed up to take 500hp, the tunnel isn't a problem if you change the rear housing for a Mustang one which moves the shifter box about 50mm forward so the stick comes out the original hole. The M21 isn't a nice box to use for the street, the close ratios and high 1st gear make it a pain in the botty to use with a higher ratio diff and used with a lower ratio it has great acceleration but revs it tits off at highway speeds. The T5 coupled to a 3.08 diff has a lower 1st gear ratio than any M20 aussie/diff combo except the M20/3.55. The T5 shift is much smoother than the aussie and doesn't wear like it does either, if my ute was a genuine Sandman then it would be a different story, the work needed at the moment is not beyond me so taking it slow I'll hopefully end up with a great looking replica. I also prefer the 253 over the 308 as I have always found it to be a sweeter running motor.
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