No...the tailshaft housing is different and cannot be converted to a mechanical drive. However, there is a converter box that sells for $300+ that will do the job if you want to use your stock mechanical gauges with the electronic T5. Personally, I'd rather have a lower mileage transmission and be able to calibrate my speedo with the "cable-x" box. A rebuild on a worn-out high mileage T5, is going to be expensive and getting the stock speedos calibrated is hit and miss.
I'm currently running an 85 T5 in my 54 truck behind a 235. I have a bunch of T5 info in my webshots Shoebox album. Also some pics of the difference between the mechanical and electronic transmissions. Hope this helps you get started.
Dave