Looks like a decent combination that should be able to meet your goal. Loose weight where you can, especially in front of the driver and be prepared to work the suspension. The first 60' will make all the difference in the world. With 4.11's and the Mustang being a light car, you will not have low end torque problems whatsoever on the street. I hope that your tranny is built to take it.
From a drag racing perspective, about the only mechanical "weaknesses" that you might have is the converter is on the tight tight side. A good drag converter stall would be somewhere around 1000 rpm under your peak. Of course that might hamper your car's streetability (which is an individual perception.) If your car is like mine, it prefers a 950 carb although the 750 did work decent and got me well into the 11.20's (with 93 octane.)
The good news is that any of the heads mentioned in this thread can get you your goal, but again you will need to work the car and suspension in order to get there.
HEADS ARE EXPENSIVE AND I WANT BUY HEADS ONE TIME
Based upon
this statement alone, I again suggest the larger 215 head. Why? Because drag racers are never satisfied with just reaching a goal and stopping. That 11.60 goal will become a 10.90 goal. Its a disease and you will want more-guaranteed.
It is always cheaper to do something once
right than it is to do it a second time. This is especially important with heads because they offer more power potential to an engine than any other single part. Heads are not a place to skimp unless your goals can be met by other means.
For the budget that you have available to you, the 215 head will give you more bang for the buck in the long run unless you go crazy with the cubes. If you feel that drag racing might be a real passion for you, I would even suggest that you hold off on your head purchase for a while and save up more $$ for some reworked TF highports, CNC TF 205's/225's, or or to a lesser extent maybe even AFR 205's since heads are
really what makes an engine run hard. All these heads are still streetable for a combo such as yours.