Did you put 283 and torque into the same question? Ha! I did a 265/T-5 with 3.5 first gear and a 4.10 rear gear. Light car, scoots right along. Not gonna win any tractor pull contests but it is fun.
I run a 3.00 rear end with that first gear. Works out well, but then overdrive is too high I etched a 'B' on the knob for 'Bonneville'
Well in that case, if we have a tractor pull contest, I'll win! Rear tires are 29.5" tall bias plies. Seems like 5th (o/d) ends up being a little to tall for low HP engines with a higher rear gear. I'd go 3.75 or lower. Put a quickie in it and then you have lots of choices. I know, not what you asked. But.....
I've got a t5 with the same 1st gear. Planning on putting a 4.10 rear gear in it. I currently have a 327 muncie 4 speed 2.56 1st gear 3.70 rear gear and 30" tires. It's alot of fun but it could use more low end. I have a friend with the same 5 speed and a 4.10 gear and he loves it.
I have a T-5 in front of 3.73 gears running 275-60-15s and the truck is not bad, not a torque monster but it drives good. I am thinking about going to 3.90 gears to raise my rpms at highway speeds, currently it runs about 1950 at 70 mph. I have a 283 (.040 overbored) with 270H Comp cam, powerpack heads, Performer intake w/ EDL 1405 (600cfm) carb and blackjack shorty headers. It gets about 20 mpg highway but I have to drop to 4th on all but very slight grades. The transmission gear set is from a IROC Z Camaro.
Should be great ! It will probable fall on its face in 5th. Also that tranny uses "Atomatic transmission oil". Not gear oil. FTI