I am late into this conversation but thought I would add my thoughts. I have always been a GM man. I have a 67 Camaro now that needs restored and have had a 77 camaro years ago. I love the new Camaro. I have owned 5 mustangs. For the money and the easy inexpensive upgrades, I would go with the mustang. I am with the others on the fact that you could get a used one and soup it up for a lot less money. You can get a deal on a 5 year old Cobra, and it will already be strong. That is what I would do. I wired a house for a Ford mechanic and he hooked mine up. (Barter system)
ON another note as a huge GM fan, I am having trouble supporting Government Motors. I will not be purchasing a new GM for a long time, if ever. I just didn't support the bailout or any of the other bailouts (Who bailed me out???). I don't like paying for the pension and healthcare for the union employees to the sum of what I hear is 30% on the new cost of a vehicle.
I will not be buying anything that I can't pay cash for and that means it will be used. The 5 year old Cobra has a fully roller engine and is on sale. If you have an additional $5k, then you could make it scream. The engine is good for 200k miles.
If I had $35k sitting around with everything paid off, I would be tempted on the Camaro. But hell, then I would get a used 'Vet.
Good luck to you, wish I could drive one. I can't bring myself to ever borrow money again. When the house is paid off in 4 more years, then I will save for a new toy within my means.