OK, my solution for the cables was to take them to a garage door shop and have them swage new ends on the cables, about 2" from the original location. Which allowed parking brakes to work and Ranger pass safety.
As we know the Mustang rear brake caliper uses the parking brake as adjuster to compensate for pad wear.
In the parking brake applied by lever between the seats using arm strength
In the Ranger you will be applying the parking brake using leg strength - which for most of us is substantially more. The result is the adjuster will tend to over adjust.
I can remember if it was you Guanfy who I had earlier discussion about residual brake pressure differences between disc and drum brakes, but the just of it is: discs need a lot less residual pressure and the check valve in the rear brake line needs to be adjusted for this.
If you don't adjust the residual brake line pressure and/or take care applying parking brakes*, your Ranger will go through rear brake pads like they are going out of style.
*My son had issues with his Mustang going through rear pads, but he was a 300lb gorilla at time, whose arm strength probably matches many of the rest of us leg strength.