Being relatively new to the Mustang world,( and not mechanicly inclined in anyway,) I have come across many things that I do not understand. Was hoping maybe you guys and gals could help me out.

(without to much flaming on my ignorance of Mustangs)
First off, what do these mean?
AOD
ATI(?)
Fox body
SN
modular motor
and does a car need to have a standard transmission to be fast?
and if so, why?
I have a 96 GT automatic,(stock)what is it's potential as far as racing?
and what kind of mods would I need?
Thanks for any help,
Kelly
