Nothing says modern American sporty car better than this Mustang. Its long hood and short rear deck capitalize on 40 years of Mustang history. The current Mustang features classic design cues that have defined Mustangs since the 1960s: C-scoops in the sides, three-element tail lamps and a galloping horse badge in the center of the grille. Its menacing shark-like nose is reminiscent of the 1967 model. And while this retro-inspired look pleases the eyes, there's a lot of updated technology you don't see, starting with an aluminum hood to trim weight.

This Mustang is based on a modified version of the platform that underpins the Lincoln LS and Jaguar S-Type luxury cars, albeit with some cost-trimming features such as live-axle rear suspension. Everything under the car has been upgraded substantially from previous Mustang levels: bigger brakes by nearly 20 percent, completely new front and rear suspension designs that yield much quieter, smoother ride as well as much more precise steering during hard cornering, improved engines and new transmissions. Optional antilock brakes bundled with traction control give any driver much more of a fighting chance in bad situations by allowing the driver to brake and steer at the same time.

The engines are mounted to the body with hydraulic engine mounts, which absorb and counteract vibration and pulsing. By adapting ideas and components from luxury cars, Ford has given the current Mustang a level of sophistication its predecessors never had. Yet the Mustang heritage of low-cost performance and flashy styling has not been compromised one iota. We know, because we've driven every generation since the original debuted in the spring of 1964.

Perhaps most retro of all Mustang features is a new-for-2006 Pony Package for V6 models. This includes a grille with GT-style round fog lamps and a chrome bezel, or corral, around the traditional Mustang prancing horse. The package includes 17-inch wheels, front-fender pony badges, a lower door stripe, and a rear spoiler.