I spent under $3500 total including the purchase price of the car to run a 13.991 with horrible wheel hop on street tires, now i'm getting serious and bought $2000 worth of stuff and should be able to hit 12's with slicks....then i'm getting a nitrous system on top of that. I've had no problems other than a bad alternator wire, which was a bad connection at the alternator (stator wire i think) anyway, i've had 3 mustangs and i've loved them all and i'd say if you get one with relatively lower mileage or mostly highway mileage you'll be fine.
Good luck on your purchase!
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2005 Suzuki Hayabusa GSX1300-R
1980 Ford Thunderbird - 255 V8
ported heads, 5.0L ported stock headers, O.R. H-pipe and Flowmaster 2-chambers, dual roller timing chain
hi-po Mack Truck hood emblem
1985 Mustang GT 5.0L T5, F-303, GT40p, headers, off-road h, flowmasters, MSD stuff, etc.
Sold 02/06/04 
1989 Mustang GT ET: 13.304@102.29 mph (5-24-03)
Sold - 1998 Mustang Cobra coupe, 1/4 mile - street tires: 13.843@103.41 (bone stock)
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