that's how my GT was...you can lift up on the pedal and see if it clicks...if you hear it click its now adjusted..no click means it's already good to go. the only other way to adjust it is either with a firewall adjuster, or an adjustable quadrant...of course with any stickshift mustang i'd replace the plastic quad with a metal one just out of habit of wanting better quality parts on the car
Also, mine was like that when I bought it a couple of months ago. Pulling up on the pedal made no difference, and I was PO'd. I had just learned to deal with it when last Sunday night, I was heading to church and the clutch just died. My dad and I pulled the transmission and found the friction material had shattered on one side and was almost non existent on the other. I replaced it, and now the pedal is perfect!