Here is the difference plain and simple.
I see literally 5 2010 Mustangs everytime I get on the road(which is generally a 10 minute drive because Naples is a small city). The 350z was a very common car, as with the Mustang, but the 370 on the other hand is a little more exclusive. Mustangs are generic, plain and simple. Most people buy a Mustang because:
A. It looks fast(which is debatable)
B. The average person thinks Mustangs are fast simply because of American Tradition
C. Most teenage kids ask their parents for a Mustang GT in high school, which also ties into B^^
Some people also pick the 370 (and all Z's) for the same reasons as well. But, I think a higher % of people who buy the Z's actually buy it because its an all around good performance car. I could have gotten more power and a faster car if I wanted to, but I wanted more for my money. Who cares if your "sports coupe" is fast in a straight line, but handles like an SUV in the twistys. Thats like having a hot wife that you can only look at, but not touch. The Z is an agile wide receiver, while the Mustang is a 450lb (arguably 500lb) linebacker.
That being said. The new 5.0 GT is very, very impressive. It looks the same as the 2010 GT (everyone who bought that got screwed), and it does have some eye popping numbers. The Brembo brake package is really great, as well with an aluminum block(finally, welcome to 2010 Ford). But the only Mustang that I would ever look at is the 2013 model, which is rumored to actually have an independent rear axle. This will actually make the Stang handle decently.
So to the OP here is the verdict:
Mustang for street(cocktail party talk - probably more like frat party talk)
Z for all around performance (Back/side street weapon - After Stillen S/C it will be faster than Stang anyways.)
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