...Am I missing the point as to why there is so much negative energy around his final choice? Or is it fun to pick on him?
Yes yes, it is well known that I'm not a big fan of Ford products. However, I give more than enough credit to the Mustang in most circumstances, however I would much rather have a Camaro or Firebird if given the choice (fuel economy and the extra power are big reasons...). Yes, the rather "low" 215 crank BHP is a bit pitiful, and sadly, Ford really never caught up with the Camaro and Firebird in terms of BHP out of the 4.6L until they were dead, and added an extra eight valves to the engine, and even then, only matched the early LS1 models.
What is good about the car you got there is that they are cheap, easy to work on, and thereby easy to modify should you choose to do so. My only request is that you don't go around embarrassing yourself against hi-po Civics and GTIs, as we don't need another Mustang guy to make fun of.
The Flowmaster 40s should have been good for 10-15 BHP, so thats good, and other good add-ons to look into are indeed going to be a new set of larger-diameter headers, new cold-air intake, larger throttle body, and certainly some form of power programmer to better take use of the car's performance through the ECU.
...There are extremely cheap and easy ways to squeeze out the power, and I hope that you have fun with the car. I had a few friends in High School who had them (ironically one had a black/black 4.6L, the other a black/black 5.0L), and they were fun cars. I would have been more apt to search out a Gen IV 1.0 Z/28 (probably around '96 or '97), but thats just me...
MustangSVT
Ooh what a beauty. Must be nice to have a sports car. Unfortunately I'm stuck with driving my crappy '98 Jetta which puts out 115hp (may be more realistic to say it "put" 115hp back then, who knows how much it has now, don't even wanna know ).
Awww, it isn't that bad. My '96 Wolfsburg has everything that you've got in yours and it is plenty of fun to drive. Sure, 115 BHP isn't anything these days, but they are decently quick if you know what you're doing. I've snuck up on Civics and Corollas with "Jenna" before, and generally speaking, I believe we've got the higher-end speeds covered, just not the early starting speed.