I am in the market for a 94-04 GT, Mach 1, or SVT Cobra. My wife and I currently own a 2004 40th anniversary V6 3.9L automatic convertible, 106k miles on it with zero issues. Which leads me to believe they are reliable rides. In your experience is that true as well ? I know the gas crunch is in full swing, but I am not looking miles per gallon. I want smiles per gallon since I don't have to drive all that far nor stop and go as much since Las Vegas' infrastructure is very well designed and thought out so traffic isn't too bad.
My friend had a 2004 Mustang V6 with an automatic. He was the 2nd owner, bought it in 2008 and it lasted until earlier this year. He slid in a snowstorm in St Louis and totalled his car. It was his 1st and only car to that point. It had been driven to and from Baltimore to Cincinnati multipletimes, then Baltimore to St Louis. It had well over 200k miles.
The GTs, SVT Cobra and Mach 1s will most likely be all worn out, unless you find the needle in the haystack and find one that belonged to an elderly veteran and lived most of the last 20 years in a garage. I'd keep the V6 if it were me.