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Discussion Starter #1
your question covers a wide range as there is a distinct difference in approach that mustang owners take if they favor a classic (60's/70's) vs others that like the newer profiles.
it really becomes a personal preference and sometimes also one of practicality, ie whether the car will be used regularly or kept in the garage for a lot of the time.

for me the best mustang is 03 or 04 cobras (terminator series).

these were among the most special mustangs built and were very limited production:

in 2003 ford produced only 13,400 cobras, of which 5082 were
convertibles
in 04 only 5664 cobras were produced , of which only 1896 were
convertibles.

the engines were hand assembled using race ready (forged) internals within a stock 4.6 block. the cobra came stock with performance cold air intake and a medium boost supercharger aluminum heads and performance equipment. The engine was rated at 390hp

they had other things rarely if ever seen on a mustang (not a complete list):
-short throw 6 speed transmission
-brembo discs on the front, oversize on the rear
-independent rear suspension
-custom seats (leather & suede with cobra insignia)

they are very fast (stock times were in the order of 4.5 seconds 0-60, and 1/4 in less than 13.

the engines because of high quality internals are exceptionally dependable, therefore whether goal is long term durability, or performance upgrade a cobra engine is 1 of the best places to start.

this is my 3rd mustang convertible, 1st was 68 with optional 390c.i. engine, 2nd was heavily modified 01 gt convertible.

here's my 04 cobra

http://www.cardomain.com/member_pages/show_image.pl?image=http://memimage.cardomain.com/member_images/1/web/3169000-3169999/3169967_7_full.jpg?480310-286
http://www.cardomain.com/member_pages/show_image.pl?image=http://memimage.cardomain.com/member_images/1/web/3169000-3169999/3169967_8_full.jpg?081519-289
 

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my best guess would be 1969-1970 criteria. those years were the pinnacle of mustang's popularity and looks. plus anything from those two years or older tend to keep their value better if its in good shape
 
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