Oh my, an "E" code. On the TV auto auctions those sell for double or more.
When young my parents had a 57 Ford Fairlane with the 312 engine and a "3 on the tree". My Dad accidentally took off several times in 3rd gear instead of 1st gear. Though the car didn't respond as well it did fine. My Dad was always amazed by this and the power that engine had.
Always been a T-bird fan. To this day I still can't understand why they aren't more sought after than they are, even the big ones. We had a '65 with all the unique T-bird features. Later I bought a '90 for my daily driver and a '92 and '94 for my kids. Different animals from the 2 seater like yours but still some originality. Plus, they were good cars.