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in my view you might want to explore supercharging your 4.6 engine vs a turbo. while there are more & more turbo’s running on the streets i think its safe to say unless you are going to be racing your ride, a supercharger is a more balanced way to add muscle to your car.

likely a stock mustang gt puts down 260 or so rwhp.

my last car was 2001 gt, with cold air intake, hi-perf manifold, 75mm throttle body, saleen underdrive pulleys, diablo predator chip, bassani x-pipes & catbacks and put down a little over 305 at the rear wheels. with a short throw & 3.73 gears though it was very quick. these mods, other than the rear end are probably standard considerations for enhancing a gt.

after these mods the only thing left to do of consequence was a supercharger & after looking at the boost curves i think a kenne bell supercharger best fits this short block. but thats something you have to research (and depends on what type of power band you want…ie, a delay and a big pop or smoother boost such as delivered from a whipple or kenne bel).

best guess supercharger would have taken the car to approx 375-380 at the rear wheels (but i did not proceed opted out & purchased an 04 cobra “terminator” with a whipple & about 16 lbs of boost instead, dyno’s at +580rwhp).

its safe to say you will not get anywhere close to 700 hp out of a gt engine without serious mods and lots of changes to the workings. cobra engines (03’s & 04’s) are stroked up to this territory & beyond but can handle the power because of forged parts, etc. so in my view you 1st have to consider the limits of your 4.6 gt engine & your budget and what you want from the ride.