I replaced the timing belt in a 85' Mustang, which the whole process should be similar to doing the same in your car. It was pretty easy, keep in mind to tighten the tensioner before you try to start the engine.
The 2.3 had bad head gaskets very frequently, ecspecially under 15 psi of boost. The cars aren't really super fast and anyone with a midly souped up newer four cylinder or a factory v-8 will be more than fair competition. Otherwise they are cool cars, I'd love to build a 2.3 turbo, but I'd put a four barrel intake and carb on it, with nitrous, and an intercooler!
