i'll add my input here:
The t86 was borg's overdrive trans (came out in 1955). Pretty much a medium duty 3 speed with od that had the tin top cover. The shifter shafts come out the left side of the cast iron case (but there is no side cover since it's on the top). Should be fine behind any y-block except something built up for horsepower. As with any overdrive, i wouldn't recommend any "hard" driving with any of them. If you want to get on your car hard (ie drag race type driving), i would stay away from any overdrive ****** and stay with a regular 3 speed.
Ford used the r-10 overdrive on all six and 8 cylinder cars thru the 1950's except those with the big v8 engines. They got the r-11 overdrive trans. This was not only the r-11 but the 3 speed ****** was the borg t-85....a very stout trans.
The change to the gear teeth that occurred in 1951 was an improvement as far as i am concerned. I see plenty of transmissions in our shop, and the ones of 1951 and later gears with broken teeth i can count on one hand. Wear? Yes.....some chipped teeth...yes. But broken teeth.....havent seen one yet. That doesnt mean they can't break. It's my experience that they fail much less than the 1939-50 gears.
So, if you plan to build a nice cruiser with an overdrive trans, and your engine is not huge horsepower, and you don't plan to drag race it every friday night......any ford side loader 3 speed od, or the the t-86 topload (side shift) 3 speed od trans, would be just fine.