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The newest pony in Ford’s corral is the best one yet.

You can recognize the 1999 Mustang by the body’s sharply folded creases, fat eyebrows over each tire and a galloping pony logo in the grille, very similar to the original. The chiseled styling not only mirrors cues from the original, it also reflects a current companywide design theme called New Edge.

This new design has a pronounced muscularity that the former model did not, but the nonfunctional scoops on the hood and rear fenders clutter the styling’s simplicity.

The best part about the new Mustang is that it has more power, better handling and a tighter feel, thanks to myriad changes to both the powertrain, suspension and body structure.

Base prices are $16,995 for the V6 coupe, $21,595 for the V6 convertible, $21,395 for the V8-powered GT coupe and $25,395 for the GT convertible, which was the car driven for this review.

Slip behind the wheel of the GT, whose 4.6-liter, single-overhead-cam (SOHC) V8 has 260 horsepower now instead of 225, and the rumble of its exhaust is so persuasive that you can hardly wait to hit the road. The urgency of its idle is supplanted by a steady surge of acceleration the minute you toe the throttle. Even though the V8’s power output still doesn’t quite measure up to the Camaro and Firebird, the huge chunk of additional power gives it plenty of gallop.

The base 3.8-liter V6 has not been ignored. Horsepower for this base engine is up to 190, an increase of 40. Although I didn’t sample this engine, it should be a viable alternative for the buyer who wants reasonable giddy-up without the extra cost and fuel consumption of the V8.

Traction control is available on models equipped with anti-lock brakes, which goes a long way toward enhancing drivability in wet or snowy weather.

Twin-piston aluminum calipers for the front brakes reduce weight while new brake pad material improves modulation and feel.

More impressive to me than the engine, however, was the tighter handling and excellent steering. By making the driveline tunnel 1.5-inches deeper, engineers were able to increase rear suspension travel by an inch. Revised rear springs, as well as the additional travel, allow a more compliant ride. The rear track is wider, as well. While you will not mistake the Mustang GT’s ride for that of a family sedan, it is not as choppy or rough as past models.

Changes to the steering system result in excellent steering feel and a tighter turning circle.

Despite occasional creaks and groans, the body structure of our test convertible felt more substantial than previous ragtops, thanks to full box-section reinforcements. Even with the top down (thank goodness for the unseasonably warm weather) it did not shake and wiggle over bumps. By their very nature, convertibles are going to be louder than coupes, especially when it comes to road, tire and wind noise, but the use of sound-deadening material and better sealing of the floor pan make s the new car quieter than the old one.

While styling, performance and handling received the bulk of the attention, the interior is essentially unchanged. The radio is Ford’s old push-button design, and while sound quality was fine, it is far less user-friendly than the one used in most of their newer vehicles.

Gauges are analog, but their faces are fairly small, and that compromises readability.

The front seats are pretty comfortable, but not nearly as good as those in the high-performance SVT Cobra. The curve of the seat back provides little support for the upper shoulders, and the headrest is a long way back. Bottom cushions are good, as is side support. A six-way power seat replaces the previous four-way version.

The seat track has been extended 1-inch for greater legroom.

For diehard performance fans, Ford recently announced that the limited production SVT Mustang Cobra with 316 horsepower and independent rear suspension will begin arriving in SVT-certified ealerships as early as February. Prices will start at $27,995 for the SVT Cobra coupe and $31,995 for the SVT convertible.

Price
The base price of the GT convertible test car was $25,395. Options included automatic transmission, traction control, Mach 460 audio system, leather seats, 17-inch aluminum wheels, power driver’s seat and cruise control.

The sticker price was $28,400.

Warranty
Three years or 36,000 miles.

Point: The angular New Edge styling captures some of the original’s sharp creases while still looking unique. The redesign goes beyond exterior sheetmetal. Power, in both V6 and V8 engines has jumped, the body structure is tighter and the suspension more compliant.

Counterpoint: The seats curve away from the upper shoulders, the audio system still has tiny buttons and the exterior scoops are not convincing.

SPECIFICATIONS:
ENGINE: 4.6-liter, V8
TRANSMISSION: automatic
WHEELBASE: 101.3 inches
CURB WEIGHT: 3,386 lbs.
BASE PRICE: $25,395
PRICE AS DRIVEN: $28,400
MPG RATING: 17 city, 23 hwy.