Have an 87 5.0 with serp setup. Will this work with part # 2032 PS pump bracket, 2030 PS cooler and 2062 PS serp pulley?

Sure, in fact, if you call, we should be able to arrange a kit, where you get what you need, with Serp parts, and not the v-belt parts. The 2032 bracket would likely be best, as long as you have or can address the stock Mustang bracketry.