Hey, thanks for asking Yvsa! My favorite subject... Yep, still have it, but am trying not to drive it every day. I have an '01 Taurus I'm fixing up for my daughter, and am trying to get my monies worth by commuting in that.
The MM is a lot of fun though! Stock wasn't bad at 320 HP, but I added an SCT tune and took off the top speed limiter, then Denso iridium plugs, cooler motorcraft 180 degree stat, Granatelli coil connectors, PHP cold air kit, Meziere 55 GPM electric water pump, underdrive pullies, art carr deep finned trans pan and Level II trans rebuild, rear-engine cooling mod, PI 3000 stall torque converter, 4:10 gears and T/A performance stud & girdle kit, metal matrix composite tuned drive shaft and loop, etc. A bunch of other cosmetic stuff, plus Viper alarm w/ remote start and tilt sensor, which is a necessity around here.
The car is still N/A (normally aspirated), but had I the bread I would have forgone several of the mods I did and S/C'd it, if I could get that to pass emissions.
My biggest beef about living here in the PRK is that I can't get it over 400 HP until I swap out the entire exhaust system, and other than Megs delete tips I've done nothing or it won't pass smog. In 48 other states I could add a bolt on Cobra exhaust with high-flow cats and probably pick up close to 40 HP immediately.
With me in it it weighs 4500 pounds, but it's got plenty of get up and go, and the shifts are kick-a$$ now that the tranny is so beefed up and it has the higher stall TC. I love to drive it, but at about 16 MPG around town it's not exactly economical. It has basically the same aluminium block DOHC 32 valve V8 you were talking about above.
BTW, the 60's era Cobra I was looking at was a hand built model with aluminium monocoque construction with a built from the ground up engine that puts out 600 HP! The guy is selling it (if anyone's interested) for $65K, which is a fair price considering that I know the kit cars were selling for nearly $60K back in 1992!
My one vice (after knives...)
Here's a couple of publicity pics from Mercury. Have to dig out some of my own...
Norm