1. At around 48,000 miles the radiator O-ring seal had popped between the top tank and the core. Ford replaced it as a warranty even though the car was out of warranty.
2. Pressure plate fell apart at 72,000 miles. Replaced all clutch components.
3. Heater core started leaking at 75,000 miles.
4. Driver's power window motor crapped out at 75,000 miles.
5. Headlight lenses began yellowing in 1999 and are continuing to get worse.
6. Sway bar links wore out at 80,000 miles.
Although this is about the most problematic Ford product I've owned (my last 2 cars were Ford products 1985 and 1988), I still really like this car. The 3.8 Supercharged engine really rips especially since it's bolted to a 5 spd manual. It is a real torque monster. The 4 wheel independent suspension makes it handle totally different than the other T'birds.
The leather interior is still like new and every accessory works fine. Cosmetically it held up very nicely.
I have my t-bird as well and it has the same problem with the gauges, but the car seems to be running great for the last two years. always check the pressure valve to see if the engine has any pressure that needs to be released. it will definenately solve your problem.