Will it work?? Do bears whipe their asses with rabbits?
Okay, don't know that, but yes it'll work. No speacial clutch or anything. All the stuff that comes in the kit for the 351W will work for your Cleveland. That's actually what I had to do when I bought mine. The guy said "Cleev..what?" He didn't realize there was life outside the 5.0, kidding, kind of.
Anyhow, I used the JMC hydraulic clutch kit, 5.0 block plate, McLeod clutch, the new style bellhousing and an aluminum flywheel (revs like an MX bike now!! almost). The only issues with my set up were the block plate and the starter. Had to bang two indentations in it for the oil pan lips that extend a bit more to the rear and forget about using any OEM starter. Aftermarket mini starter is still tight with the headers but is doing fine. Also, for my headers the tab on the leading edge of the bellhousing for a cable clutch went bye bye by sawzall.
As far as your tunnel, I had to shave the upper x-member and bang in the tunnel in 1/4 inch in two spots on my 70 Mustang. Don't know how big in comparison your tunnel is.

Hope this helps
[addsig]