With its Pep Boys-inspired rear wing, fancy stick-on graphics, and a growlingly means-business exhaust note, the King of All Mustangs does not just show up — it sort of presents itself. Its appearance should be accompanied by a "ta-da!"

Such as, "Ta-da! There it is rounding Turn Three!" And "Ta-da! Now it’s coming into the pits!"

Ford would like to sell you one. "Ta-da! Thanks for your $225,000! Please enjoy your new full-race, 550-hp Mustang."

Your first question is, of course, "Can I drive it on the street?" The answer: If you live in Hazzard County, maybe.

The list of available-to-the-public hot Mustangs, already lengthy with efforts by Ford’s own SVT and tuners such as Shelby, Roush, Steeda, and Saleen, grows by one with the pending addition of the King of All Mustangs, which comes from an unlikely source: Ford’s own racing division, which turned to Multimatic Motorsports, a Canadian performance company, to complete the project. The naturally aspirated engine comes from Roush-Yates, the NASCAR boys. The inspiration and the initial investment come from Dan Davis, director of Ford Racing Technology.

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Well, it was about time; Ford has finally decided to equip its base Mustang with a modern V6 engine to compete against GM’s ‘been there, done that’ 2010 Camaro V6. In particular, Ford will replace the 2010MY’s obsolete 4.0-liter V6 with its comical output of 210HP and 240 lb-ft of torque with an all-aluminum Duratec 3.7-liter DOHC Ti-VCT V6 that delivers 305 horsepower and 280 ft.-lb.

That’s only 10HP and 45 lb-ft of torque less than the current Mustang GT’s 4.6L V8.

In another technological breakthrough for Ford (…), the new V6 will be coupled to six-speed transmissions, either manual or automatic. We remind you that the 2010 Mustang V6 and V8 models are offered with 5-speed gearboxes.

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The famous Cobra badge has returned on the latest generation Ford Mustang that was revealed at the Los Angeles Auto Show last year. The new Shelby GT500 that will be available in both coupe and convertible versions will make its world debut at the Detroit show later this month with sales following in spring 2009. Upgrades over the standard Mustang include an aggressive bodykit, retuned sports suspension and of course, a more powerful 5.4-liter supercharged V8 that delivers 40HP more than before for a total output of 540HP and 510 foot-pounds of torque.

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With Dodge having introduced its new Challenger last spring and Chevy’s new Camaro about to go on sale, Ford could hardly stand pat with its current Mustang, which is now four years old. That’s why Henry’s company introduced this new 2010 version of its venerable pony car at the Los Angeles auto show.

The keen observer will notice a close resemblance to the current model in size, profile, and overall shape. In fact, the 2010 Mustang is not an all-new model, but rather a heavily revised version of the current car, with changes concentrated in the areas that called for the most improvement.

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Spy shots of future versions of the Ford Mustang are hot properties, no matter what trim level or body style they reveal. And so we struck gold when our spies captured the new 2010 Ford Mustang Shelby GT500 convertible—among the fastest, most desirable, and most collectible of all Mustangs—strutting its stuff outside Ford’s Dearborn headquarters several months before any Mustang is to be shown to the public.

Even better, this working prototype is wearing virtually no disguise other than its charred-Cheetos-on-a-white-tablecloth body wrap—complete with racing stripes, of course—revealing design details we’ve never seen before that will apply to all Mustangs. These include the new, shrunken headlamps, which are now assemblies that include the turn signals. The back end shows the pinched taillamps set high up in the new rear bumper. The freshened skin is somewhat more beveled, with a front-to-back crease and what appears to be some sort of front fender ornamentation. Read more »