The center console on this mule houses four rudimentary buttons: "Reverse", "Winter", "Auto", and "Sport", respectively.
The function of the first is obvious enough, though the small metal lever favored by Ferrari would seem to be a more intuitive alternative to a look-alike button. The second switch presumably starts the car in second gear when called upon in icy conditions to quell excess wheelspin, "Auto" likely invokes a traditional fully automatic mode when the driver doesn't want to fuss with the sequential shifter, and "Sport" puts the transmission on notice to adopt a more performance-oriented shift algorithm for when owners really want to "turn up the wick" and lay waste to a pursuing Bowtie. "No word on what that prominent red and yellow button by the parking brake is, but presume it to be a makeshift starter button, (the Vanquish features an infinitely sexier dashboard-resident button that functions similarly)."
Despite the inclusion of the gameshow-set refugee plunger on the console, it is reasonable to surmise that the e-shifter is rather far along in its gestation, judging by the fact that this vehicle was running about freely in traffic with no ill-effects - and by the conspicuous absence of the near ubiquitous dash-mounted external computer used on most prototypes to monitor systems performance issues.
Although the paddle shifter is likely to be reserved for the high-end Cobra (said to be pushing more than 350hp for Corvette hunting duties), these photos should be seen as a greatly encouraging development for all Mustang faithful, as bringing this type of high-end component to the Mustang's lower pricepoint illustrates that Ford is dead-serious about ditching the antiquated image of its pony car as a technical throwback for good. Not that Dearborn is looking for a wholesale image change for the ponycar (don't expect to see 9000rpm variable-valve-timing mills and actively-suspended awd setups barring a precipitous temperature drop in Hell), but the existence of the F1-style system can be seen as part of Ford's effort to bring meaningful modern technology to the masses by betting big on their favorite horse.