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Im getting a 98 SHO on wednesday and heres the deal. i was planning on putting a 15" sub in the back because i have it for another car but that fell through. Im going to have to replace the alternator and add a battery i think. I am completely unfamiliar with alternators tho so what would be a good one to look for and how much would it be?
Your best bet is to have yours rebuilt by a local shop. They know what they are doing and will do the best job, better quality than the reman's you get from part supply stores. Who knows who does those things, and they never seem to work.. Let alone last!
The easiest way to get your alternator out of the car is to drop the subframe (just remove the rear two bolts and let it hang down as far as it will go). It will give you much greater access to remove it. Apparently it can be done without doing this, although I have no idea how people can contort their hands in to get the bolts out.. and then wiggling the alternator out after. But really.. I think its so much easier to take the two bolts out. Put the car up on jackstands behind the subframe (the stamped-in framerails work well if they aren't rotting). You can remove one bolt from either side first, then when you go to remove the other side use a jack and support the weight of the subframe while you take the other bolt out. Then lower it down slowly. It will only drop about 4-6", but really makes it alot easier.
Good luck!
Edit: Plan to spend around $150 for the rebuild. Probably around the same price to buy a cheap replacement. Go for the rebuild (plus you support local business! not china.)