yes, it will bolt up. Just remember that the 89 engine has a 50 oz imbalance and the 70 is a 28 oz imbalance. You must use the proper flexplate, you can buy an aftermarket 50 oz flexplate to fit you c4 convertor. If you must change the harmonic balancer, same rules apply and you can buy a 50 oz balancer with the correct offset for your application
Your 1989 donor already has the 50 oz balancer but you will need this: http://www.kmjent.com/cart/ford-sfi-flexplate-164-tooth-50-oz-302-5.0l-c4-aod.html Because your Mustang uses a front sump oil pan you will need to use it and the oil pump pickup and timing cover and dipstick from your '70 engine and remember to plug the side dipstick hole on the '89 donor.Also if you are going to retain the intake and Carb from the '70 and manual fuel pump you may want to use the early timing chain and eccentric.