My stroker crank ran about 1200, rods were around 700, and the pistons were also 700ish.  'Course I built a Mopar...  I can't tell you what the car's gonna cost, but if you do the work yourself you can expect the interior to cost around 800 complete.  As far as the body, that also depends on you, are you going to do the work or is a shop?  The first body job my car saw was about 1300.  Two years ago I decided to do it right and it cost me around 10000.  It's all up to how nice you want it to be and how long you want it to last.  No matter what though, realize you can build the car as you go and drive it in the meantime.  Don't let the overall cost get you down, the finished product will be worth it.

Get a job, a good job, and forget having a girlfriend, it's one or the other when it comes to the wallet. I will admit this, it cost $900 to get my short block out of the machine shop four years ago, un-assymbled and no cam stuff. Get a job, get a good job!

Arizona, it's a dry heat!!

Look through Car Craft and check out some of the ads.  Speed-O-Motive sells stroker kits (they may be Chevy-only), try Ford Motorsport, Jeg's, Summit Racing, etc.  The amount it will cost you to build the car depends on you.  If you have a garage, you can try to do a lot of the work yourself.  I do a lot of carpentry and construction work on the side, and whenever a job comes up where I need a special tool, and I know I will use it again in the future, I buy it.  You could do the same thing.  If you need to patch the trunk, instead of paying someone to do the work, you could buy yourself a small MIG Welder and do it with a little help from either someone you know that knows how to weld, or buy a book and try it out.  The interior work can be done piece by piece while you drive the car, so save that for last or do it as you go.   The painitng and bodywork part are a little different.  It takes time and talent to do good bodywork.  I am lucky that I have a good friend that used to own a body shop, and only does it for fun now and for his own restoration work.   My dad taught me some things growing up, but learning from a pro certainly helps.  Maybe you know somebody, or someone you know knows somebody that owns a shop, and you could have them help you out for some labor after school or work or on weekends.  Bartering is a great way to go when you don't have the $$$.  The best people to try to barter with are the old guys, because they know the most, and aren't so hell-bent on making every last buck like a lot of the younger guys are.

There are alot of cheap stroker kits out there, but be aware, alot of them are exactly that... cheap.  You get what you pay for in this business.  Now, depending on what you are going to do, it may not matter if the bottom end wants to fall out a +6 grand, but if it does, you'll wish you spent the extra 300 bucks for a better kit, as you try to pull a valve out of your muffler with a magnet.  

Yeah, you definitely get what you pay for.  I was wrong about Speed-O-Motive.  They sell all different brands of stroker parts, including the 302 to 347 Ford.  

Look back through some issues of Car Craft.  Especially the battle of the titans article on the 351.  A lot of that stuff should give you a baseline.

And a while ago they ran an article about some AFR 195cc heads that were worth a 100hp over stock on a 302, so i'd bet they'd rock on a 347.  Also check out some of the mustang mags, they'll have some information between their advertising.

Sounds like you have an awesome starting point. As others have stated the 347 is available many ways. The one thing I would stress is not to cut costs here too much, cough up the bucks for forged pistons now and you will have a good foundation if you decide to add nitrous or get more radical down the road.

The main thing I would advise against that you planned is the candy paint. If you mean candy transparent then take my word, BAD IDEA. It looks awesome but is not up to the job for a driver. Sunlight, parking lots, and toxic rain play heck it. Basecoat, clearcoat urethane will give you awesome results and durability.

If you haven't mastered welding do, buying a used mig welder and getting good enough to patch metal will save you bucks and make you bucks. Patch panels are cheap but body shops aren't.

I subscribe to Jesse James school of thought, if you can't buy the cool stuff learn to build it, especially when it involves bodywork.

Best of luck with this one, may it be all you imagine now in the end.