The Newer GTs are so much better in every way, that I cannot imagine NOT buying a new one. Find Yourself a brand New GT or a slightly used one and start tweaking it...
I drove the new one, a CS/GT and it was SO much better than the last mustang I drove. It rode properly, didn't wallow around, and steered pretty much where I pointed it. I was really impressed.
I can certainly understand being attached to a vehicle, I am struggling a lot with selling Lilah. So this is to a certain extent tough talk.
Now, when it comes to buying new and having a payment I always hesitate, but work it out carefully, make you have a number within your budget then bite the bullet. Even though the RX doesn't suite me 100% and I am looking at get something different it is hard to argue with the security and fun of driving something brand new/near new and healthy. It make you feel good, and there is a certain piece of mind involved.
Trade in Ole' reliable, get a New GT You know you want one and they really are that much better. Dropping any money into a car that's worth about $4K is just kinda silly. Your talking about crate motor in a car that has iffy driving lights and a Window thats outta whack? When American cars reach a certain point, you know as well as I that they become one niggle after another until the needed money for repairs is more than the car is worth.
Anyway, This is what I drove but in Blue, and it was a huge hoot. The Tranny is SO MUCH better, the handling was on par with any modern sporty car, and the Interior is much much better.
The only thing that was still wonky and silly is the FREAKING MONSTER of an E-Brake handle and the HUGE pull it needs to do it's job. Thing looks like it's out of an F150 or something. How Ford could think that it's an OK design is beyond me. Seat belts are also WAY WAY back there it's a pretty good reach from the front seat.
Otherwise, 300 HP with more easily had. PLUS MUCH IMPROVED SAFETY AND Stability help.