I have a 95. It is great. Stock I think that they have more bottom end power and therefore are a little more fun to drive without mods. Should you decide to mod your car, there are a billion cheap aftermarket parts out there.
That being said, I don't want to take anything away from the 96-98 4.6L's. They are nice cars, and can run strong. It is just that they require a fair bit more cash to hotrod.
I recommend that you drive both (if you can). Pick the car that suits your budget, driving style, and future plans.
Hope that helps.
Oh and one more thing, I LOVE the dash clock on the 95. It was removed in the 4.6L cars.
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1995 Mustang GT