Funny topic....not a popular one on CEG though...
After having my mustang for about 2 months, I can say it pretty much stomps the contour in every category except specific output, low speed (sharp) cornering and hard braking...funny thing is that the much higher torque and hp rating makes up for the time you lose entering the corner when you power out the other side...plus, if you get the weight transfer just right, the 245 series rubber sticks pretty good, and the limit is predictable. The contour is very precise, but you don't have near the ability to throttle steer as you do with the mustang, so that makes up for some of its tendency to push at the limit.
The mustang is cheaper to repair, more durable, but less spacious and a little less comfortable to ride in than the contour. Build quality on my stang is much better than my contour, but that's a car by car thing.
The 5.0 cars are nice and allow you to build big hp for cheap, but don't overlook the new edge mod motor cars...my car does a 13.95 quarter mile @ 100 and its bone stock....which would indicate that the mustang is back and better than ever....companies are already coming out with new heads, cams, headers, turbos...the sky's the limit. Too bad the aftermarket for the contour didn't take off like it could have.
Two capable platforms offering two totally different feels for basically (save for the fringe like me and some others) two different consumers.
