I have a 63 Falcon XL ute project. Originally I had the grandiose idea of fitting an 4.0 Turbo to it, shock tower delete using either the L300 or mustang 2 front end.
I did some research and found the M2 front end a much easier fit, with minimal difference in rail width (20 mm to be exact
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I'm not sure, but i can check easily enough, but i think that the muzzy is wide enough to accomodate the M2 front end with no major surgery.
Where you may run into problems, is if you attempt a 100% delete of the towers. As you will be removing a lot of strength that has to be made up somewhere else. However, if you retain the original top to accomdate an export brace, you can get pretty wild in the trim on the towers.
The major thing that swayed me to the M2 option, was the wide range of readily available parts.
As for the Rack, there are plenty of guys that have converted Mustang 2's about, a simple chat with one of them would tell you what to use, failing that most of the manual racks from the states can be flipped with minor alterations.
The kits out there to fit an M2 front end make it easy...someone else has already reinvented the wheel for you.
Jas