Decision: 5x4 (SBP) or 5x4.5?

As long as there are caliper parts for mustangs and corvettes, there will be parts for mopar K-H four piston calipers.
The availability of the mopar disks was very limited for a while, at least decent ones. Definately pick up a spare set when you have a chance.
Same with the drums. It was the rear drums that went unavailable new for a while - specificly the 10 x 1.75" drums with SBP.
10 x 1.75 drums with BBP had even less original use. Those are probably harder to find at times. Kindof like the Bendix 4 piston brakes used just a few years on b-bodies.
Point is, on older vehicles, parts available is never guarenteed.

That's not really true. The BBP disks and 10x2.5" drums that are used on A-bodies were used on cars well into the '80's for the disks and into the '90's for the drums. There are literally millions of cars with the 10x2.5" rear drums. "Guaranteed" is a pretty strong word, but getting 10x2.5" drum brake parts has never been an issue so far and with the parts currently being reproduced in large numbers it isn't likely to be an issue any time soon. The SBP stuff has already been out of stock on more than one occasion, A-bodies are the ONLY cars that use the 10x1.75" SBP rear drum stuff. So it's a really limited market, because not even all the A-bodies got 10" brakes. The KH stuff is easier for some stuff as you pointed out because of the Mustang crossover, but the Mopar specific stuff can be an issue. Seems like there are a lot of thread from guys looking for hubs. Granted, I also see that most of them find hubs relatively quickly, but that will eventually change.

It doesn't matter as much if the car isn't going to see a lot of miles. If set up with new SBP brake parts most folks don't drive these cars enough to get to the next brake job. For a frequent driver or something that uses its brakes hard (autoX, road race, etc) there's no way I'd keep the SBP stuff.