you may be 70hp down but don't forget weight. Just because a mustang is a V8 doesn't mean it should be fast. Stock 5.0's/GT's have around 215-260hp, its less at the wheels. A 200rwhp car that weighs 3300-3500lbs is not going to be fast.
But why do you hate mustangs? I would think that since you have an import you would prefer the 4.6L 32v motor over the pushrods?
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2003 Cobra - bolt ons