I am running the generic 204/214 cam in my Mustang's only slightly warm 289 with headers, 2.79 gears, and automatic. It pulls about 18" of vacuum in neutral, and easily idles down to 600 RPM in drive. With my gears, I almost feel like I should have gone one step smaller, like a 194/204, but I can't complain too much about the 204/214 so far. I only have 1000 miles on the engine so far, however, so we'll see.
With your 3.23s in the back, it should be just about right.
