I would not call it the Mustang club even though most of us do have Mustangs but the Ford forum meets up about 1-2 times a month at various places.
The turnouts have been a little weak lately but I imagine once the weather starts to cool off people will start coming out.
The new GT's are good but a Mach 1 or Cobra would be better and they are pretty cheap right now since most dealers want the '03 models off the lot before the '04 models hit.