Birthday Banter: The 10 Best Mustangs Ever?

First Generation (1964.5-1966): 1966 Shelby GT350 -- There's a case to be made that the original Mustang Convertible is still the single most iconic Mustang of all time, but it's simply impossible to deny that the GT350 was the best of the bunch. With its Shelby-tweaked suspension and free-revving 306-horsepower 289 V8, the GT350 is simply one of the best driving cars built during the '60s. And the 1966 version with its Plexiglass rear quarter windows and functional side air extractors was the best looking.

Second Generation (1967-'68): 1968 GT390 -- Yes, Ford built some second-generation Mustangs powered by the 427 and 428 Cobra Jet engines, but so few they're really oddities more than regular production cars. And while the Shelby name was now on both GT350 and GT500 models, the cars were gaudily decorated, tuned softer to attract luxury buyers, and by '68 even Carroll Shelby had lost interest to the extent that production moved from his shop in California to the A.O. Smith Company in Michigan. The heart and soul of the second-generation Mustang is the '68 GT 390 with its 325-horsepower, 390-cubic inch V8, unadorned fastback exterior and comfortable interior. And it didn't hurt that Steve McQueen drove one in Bullitt.

Third Generation (1969-'70): 1970 Boss 302 -- The 1970 Boss 302 lays claim to mantle of the greatest of the third-generation Mustangs simply because this is the car that won the hotly contested 1970 SCCA Trans Am title. With drivers Parnelli Jones and George Follmer behind the wheel, and Bud Moore handling the wrenches, the Boss 302 was simply brilliant on track. And as a street car, the 290-horsepower Boss 302 was the best-handling Mustang made until that time. Sure the Mach 1 could be had with a 360-horsepower 428 Cobra Super Jet engine under its hood. And the mighty Boss 429 Mustang is a legend of its own, but it's the Boss 302 that was the best balanced and the Mustang that won races.

Fourth Generation (1971-'73): 1971 Boss 351 -- The Mustang grew porcine with the introduction of the '71 models. In fact, these Mustangs were so porky that they lost much of the light feel that had made Mustangs so engaging. But for just the 1971 model year, buyers could get the 350-horsepower Boss 351 Mustang. which combined big power with a relatively refined chassis.

Fifth Generation (1974-'78): 1978 King Cobra -- With its delicate Pinto-derived chassis, strangled engines, awkward styling and crummy build quality, there's not much to be said in favor of the pitiful Mustang II. The over-the-top styling of the 1978 King Cobra, however, had the virtue of  total wack-job nuttiness. Featuring every styling cliche known to '70s man, it was almost possible to forget that the 302 V8 under the hood wheezed out only 139 horsepower.

Sixth Generation (1979-'93): 1987 GT 5.0 -- The "Fox body" Mustang was in production for a staggering 15 years and included such delightful cars as the Mustang SVO. But it was the 1987 GT with the 5.0-liter V8 engine, improved cylinder heads and advanced electronic fuel injection system that make the "5.0" a car easy to hot rod and easy to race. The 5.0-liter engine may have been rated at only 225 horsepower, but racers around the world would soon have it pumping out four times that much.

Seventh Generation (1994-'98): 1996 SVT Cobra -- The "SN95" Mustang was a thorough update of the previous Fox body Mustang and a significantly improved car. And it was even better when tuned by Ford's SVT division as the Cobra. But though the Cobra was offered in 1994 and '95 powered by a version of the old 5.0-liter OHV V8, it didn't really hit its stride until the introduction of the DOHC, 32-valve version of the 4.6-liter modular V8 was installed for 1996. With 305 hp available, the '96 SVT Cobra was athletic in a way no previous Mustang had ever been.

Eighth Generation (1999-2004): 2003 SVT Cobra -- Throw an intercooled Eaton supercharger atop the DOHC 32-valve 4.6-liter modular V8 and the result is 390 thundering horsepower. Back it with a six-speed manual transmission and throw in the first independent rear suspension ever installed in a production Mustang, and the 2003 SVT Cobra stands out as one of the best-handling and quickest Mustangs ever.

Ninth Generation (2005-'09): 2008 Bullitt -- Sure the supercharged 500-horsepower Shelby GT500 and 540-hp GT500 KR were both much quicker than the Bullitt, but both suffered from nose-heaviness and less-than-stellar chassis tuning. Meanwhile, the 315-hp Bullitt's 4.6-liter SOHC, three-valve engine may not be supercharged, but is eager to please and fun to romp with. And the Bullitt's chassis is both responsive and easy to live with. Plus, the Bullitt cost a lot less money.

Tenth Generation (2010-Current): 2010 GT 500 -- The GT500 is blistering fast, but it's the regular 315-horsepower GT that is the most improved Mustang. It's quicker, better-handling and bargain priced. Everything everyone wants in a Mustang. -- John Pearley Huffman, Contributor