Hey this is my fathers MGB, we started the conversion around July of 2001, the 302 block is out of a mustang with the following mods: fresh Crank, street cam, new higher compression pistons, Torker 289 4-barrel intake w/ Edelbrock 650cfm carb, completely balanced, bored .030 over, new rings, huge port job on the heads, totally custom headers.
With a top loader 4 speed tranny. It has a stock rear end still (still looking for shortened ford 8.8inch).
Has 15? TR6 wheels with fake knock off?s, all new bushings in the front suspension, and new leafs in the back.
We Live in Victoria and there is a local race track (Western Speedway) that hosts many different types of racing including drag racing, but this track isn?t big enough for the full ? mile strip so we race on just over 660ft I think (almost 1/8mile) and the MGB runs that in 6.3 @ 65 mph. And that was with absolutely no traction too.
We made out own ground effects kit for it, which gives it that low look.
Complete custom 2 ? inch exhaust through dual flow masters straight out the back giving us a ridiculous sounding MGB

As you can see the engine is really far back, infact the rear of the valve covers is about ? of an inch from the firewall, we had to carve away a lot of body for that engine to fit. the whole engine is in front of the center line of the wheels which gives it remarkably good handling compared to other v8 conversions with bad weight distribution, the 5.0 we put in weighs about 80lbs more that the original motor out of the B. We had to widen the engine bay a whole lot too so the pedal cluster is moved over about 4 inches to the left, which makes it tricky to drive with fatty shoes. We have just finished the interior with full sound and heat proofing then some black carpet and the stock seats without the head rests.