Best car I've owned! It doesn't have quite the mistique that my Buick did, but the combination of looks, handling, and performance is much better. The pump gas potential is amazing and the 6spd makes the car more enjoyable. The handling is obviously much better than the Buick. The interior is also an upgrade. People complain about it having too much plastic, but they must have never paid attention to the GN interior. The seats are fantastic and the layout is very functional. Then again, I'm not much of a frills guy. The only downfall is the shifter position is too far forward for some people. An aftermarket shifter will easily fix this.
These cars are easy to work on, from a bolt-on standpoint. Headers are a real pain and internal work isn't as easy as an OHV motor. Mods aren't really expensive unless you get into the motor. The internals aren't necessarily more expensive, but things like (4) cams can add up. Parts availability is astounding for a car that is only 2-3yrs old. The results seen for minimal investment is right in line with the Turbo Regals, and even better when you consider it doesn't require race fuel.
Downsides include the fact that a lot of Ford dealer service sucks, just like any dealer. There are some inherent problems with these car that are hit and miss. These include pulling to the right due to bad factory alignment, driveshaft vibration due to insufficient balancing, driveline lash due to the T56 and aluminum driveshaft (Vipers and F-bodies do the same thing), and the "tick." These issues are all covered under warranty. The tick, which results from incorrect valve guide clearance in a single cylinder, doesn't effect all cars and doesn't even seem to have a negative performance effect on the cars that do have it. Ford released two different head designs that didn't fix the problem. Their latest release has yet to be proven and is on national backorder.
When I weigh the pros'n'cons, I absolutely love this car. I want to own another GN, but it won't be at the expense of my Cobra. Take that for what it's worth!
