I am the widest wheels guy....glad my thread could be of use to some people.
$699 for the cheapest tubulars? Check this link for a complete upper and lower tubular set on ebay $259 shipped.
MUSTANG II TUBULAR A-ARMS STREET ROD 2 UPPER/2 LOWER:eBay Motors (item 110448640689 end time Oct-31-09 20:08:05 PDT)
I believe the only thing different between the M2 and the pinto is the stock strut rods have a different angle back to the chassis from the control arms.
As far as doing it cheaply there is nothing wrong with running the stock arms/strut rods. Especially on a falcon because you will not see it unless you are under the car. Different on a street rod where it may be exposed and you might want it to look a little sexier. Just clean them and repaint black and it will look fine. Can also upgrade later as budget allows if desired.
I guess it really depends on what you are trying to achieve. I decided to run an FE motor in mine and that would definatley not fit with the stock shock towers. I went M2 and removed the shock towers instead of doing the crites shock tower notching kit because I would still have to replace most of the worn out stock falcon ball joints, steering box, tie rods etc anyway. I figured that would end up being more expensive than the M2 conversion by the time all was said and done. The other advantage is I can run the FE or any other motor in this car without custom high $$$ headers. The car I am building is basically a cruiser and not a die hard race car so I don't really care how it handles other than basic street driving conditions. No matter what it has to be better with the new M2 set-up than a worn out stock suspension anyway.