You're smart. You still have way less money in your car than if you'd bought a GT, you have lower insurance and better gas mileage. Right off the lot my 4.0 was faster than my old 5.0, and with a few mods it's very respectable.
Doesn't matter when you also add in the extra 95 hp. You don't have to push it that hard to get to 60 in 5.4 seconds vs. the 6.5 you get now with the 4.0 (if you have a manual that is)... Plus, that new smoother revving V-6 will be much happier at higher rpm's so you wouldn't mind winding it up more!
Excellent comments. My wife and I are considering a Mustang. The "big" dog is the GT, hands down however in the real world the V6 does everything well and a lot more affordable. If performance is the bottom line, get the GT. If cruising and style is the priority, get the V6. The great news is, over the last five years Ford has been doing amazing things to the Mustang.
I too own a 2007 4.0 Pony Package. I bought it kind of on impulse, because of the classic lines and the Vista Blue with white stripes. Classic Mustang colors!!
It has a cold air intake, Bama tune chip and Flowmaster... as well as chrome Bullitt rims.
I am generally happy with the decent performance and sound now, but being an automatic, I get at most 27 MPG on an easy highway cruise. I'm in the process of trading it for an identical in every-way appearance-wise 2008 GT with a 5 speed. I am pretty sure the mileage will be almost the same on the highway, but with added power and sound :)
It would have been soooo nice if the new 3.7 V6 was in the 05-09 models. That way you get a very decent trade-off as far as gas mileage goes with a more powerful motor. I think the 08 looks better than the new ones, so who cares. Kinda sucks that the 4.0 is a bit of a Ranger hand-me-down, and could have used some refinement and tweaking, but you get what you pay for. I would happily keep a sixer around for a nice second car.
I got rid of my V-8 Mustang and opted for the much more affordable 4.0 V-6 in 2007. My insurance dropped dramatically, the cost was 7 grand less, and no one can tell the difference unless they are a Mustang fanatic.
I get a kick out of all the guys who rant about the "performance" of the V-8's. Yes, they are a little faster, but when can you ever actually USE that power? Even a Dodge Viper takes 20 seconds zero to 60 when it's merging onto a freeway behind an anemic Corolla.
As for gas mileage, my V-8 got between 11 and 17mpg, with the highest ever being 20.5 on a long, mostly downhill stretch of interstate with the cruise set on 55. No V-8 Mustang gets the kind of mileage I see in all the wild claims on here.