let me see if I can help iv been through this before I had about the same setup in my 95 stock bottom end with gt40 iron heads mild clean up port, real cobra intake,1.7 rockers, e303,70tb,75mass air with cold air,373 gear,t5,mac upper and lowers,1 5/8 shorty headers with prochamber and 2 chamber flowmasters, I did spray a zex 125 shot dry and got 2.0 60ft with nitto 245-45-17 with stock cobra rims. I changed to front and back drag springs with right rear air bag from laurel mountain mustang. and dropped my 60ft to 1.77 everything else on susp is stock.
now the thing with the tko. I had a new tko600 that I put in with my 347 all done at same time with 3.73 gear. and car would not move until around 3k. the first gear is too low and I did other things to motor to try and get it to go even went to 4.10 gear better but no luck. the t5 with 302 would launch better than my 347 and tko even with going to 4.10 gear. I can tell u a tko don't like to shift higher than 6000 in stock form. I broke mine with 500 miles on it and tremac said its not a racing trans. they have plastic shift pads that cant handle that high of a shift. I would say work on susp and weight I had all acc with stock belt size also. sorry so long
