In its most recent encounter with a Corvette—July 2006—the Mustang didn’t fare well against Chevy’s Corvette. Road-course lap times favored the Vette, and even on something as uncomplicated as a drag strip, the big-horsepower Mustang didn’t cover itself with low-ET glory.So at a glance, this may look like another mismatch. On the other hand, Chevy’s new Camaro inventory has nothing that measures up to this latest Carroll Shelby–anointed Mustang, in either price ($50,895 as tested) or power.

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Ford forecasts runs to 60 mph in 4.3 seconds. But even though it enjoys a power-to-weight advantage versus the Vette, in four tests with four different GT500s the best we’ve achieved is with this example: 4.5 to 60 and the quarter in 12.7 at 115 mph.There’s certainly no shortage of thrust. The GT500’s supercharged and intercooled 5.4-liter V-8 delivers potent midrange response and sounds terrific. But all that power makes it tough to keep launches from going up in smoke.

Photo Credit: CarandDriver.com

Away from the track, the Mustang is more likable. We gave it a small edge in ride quality (though this is like the difference between flint and granite—both are hard). The quality of the paint, assembly, and interior materials is consistent with the big price tag—not a squeak or a rattle with 6400 miles on the odo—and if the seats aren’t as supportive as those in the Vette, they look snappy with their red-and-black color scheme. We gave a clarity advantage to the GT500’s nav system, and, of course, the Mustang has a back seat—extra points for that. We’d like the front buckets better if the seatbacks were power adjustable, and we’d like the Alcantara-clad steering wheel better if it adjusted for reach as well as rake—not an unreasonable expectation in a $50K car.

Still, no one was surprised that the Corvette took the trophy again. In part, this is due to the difference between a sporty car and a true sports car. But it’s also due to the Ford’s archaic rear suspension. The SVT troops have done a remarkable job of keeping it viable, but it’s like prepping for a hundred-meter sprint by connecting your ankles with a three-foot tether. Adding power can’t completely fix it.