I'll be trying to start mine for the first time about 4th of July. However, I saw the location problem while putting parts together. I went to local, large scale, plumbing supply house for the fix. I retained the OEM hexagonal extension. I screwed to it, a square-sided brass 45 elbow (same size pipe threads as the OEM piece) The 45 has female on one end and male on the other. Into this I threaded a 4" brass nipple (same size pipe threads again) and a brass couple. This raised the sender about 7" above and forward of the header collector and provided a threaded female hole to screw the sender into. Hopefully this will be enough. In case it's not I've considered fabricating a small sheet metal heat shield to use in conjunction with the additional plumbing. I'm also putting one between the drivers side rear header pipe and the driver's footbox wall which is only about 3/4" away from the exhaust. For what it's worth, I had initally bought a much smaller OEM sender for a Ranger PU which is what I currently have, but I noticed my Autometer gauges came with its own oil sender which I will probably swap out. It is about the size of the original Mustang one. The Ranger sender is about the diameter of a quarter and about 1.5 inches long.
Eddie