T5 won't bolt to a 460...the bellhousing pattern is different.
But, you might be able to "engineer" a T5 onto a different bellhousing though. It'd take a little thought, some machining, and probably quite a bit of $$$.
C4 or C6 would be a better choice of course...but the overdrive is NICE in the T5. With a stock-ish 460, it should live a while. Not forever, but a while. Personally, I would forget a 460 and put a windsor in there, mod it a little and bolt the T5 up to it and go spank some rice. I love 460 engines, but man, they are SOOOO heavy!