I'm betting a 96-98 Gen I 4.6L with a 99+ engine would kill a new GT on top end.
I saw some disturbing numbers the other day. My 1987 Mustang GT Hatch (Fox cars are known as flying bricks) has the SAME coefficient of drag that my 2002 Mustang GT Coupe has.

.36 The C-5 Corvette is .29. That's another reason the LS1 F bodies are so killer in high speeds. They are wedge shaped and very aerodynamic compared to our cars.