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Was that the same 2.3 in the Turbo Coupe they stuck in the Mustang SVO?

Yup. It's a very nice engine. It's pretty strong, and has a lot of potential, too.

The MKIII doesn't count. :) I owned one and put a lot of miles on one. Nice car, but just an anemic 5.0 on the standard 'bird chassis. I still liked the car. Build quality awful. Was rather strange some 25 year old kid with a Lincoln as his car.

True.. A friend of mine (20 years old, BTW), is on his second Mark VII. His first was a '90. It had uncomfortable seats, a lousy interior, it rode poorly, it was noisy, etc. I got a headache from being in it more than 10 minutes. He eventually ended up with an 89. It has a totally different interior which is MUCH nicer, the seats are great, it's quieter, etc. I couldn't believe how much Ford screwed that car up later on. It is pretty slow though, but then again it does weigh 4000 pounds. He had to get it flat-bedded once (bad fuel pump) and the tow truck winch was barely able to pull it up!