This is Betty, my '87 GT. I got her about a year ago for free, as payment for work I'm doing on my friend's '88. She was a complete virgin, still sporting the cheesegraters, turbines, and stock EVERYTHING, even down to the factory mufflers.  
  Today she's wearing new black carpet, Pony wheels & LX tail lights. Goodies include; 1.7 rockers, aluminum driveshaft, King Cobra clutch, Steeda quadrant, adj. FPR, BBK headers, & full off-road 2.5" exhaust.
  Immediate plans include a Cobra intake, mass air conversion, bigger injectors, meatier tires, short shifter, MMS rear control arms, and 3.73s.
  Long term, I'm planning for a 331 stroker, Tremec tranny, major upgrades to the brakes & suspension, full black interior, '93 Cobra rear bumper, 2.5" cowl hood, and a new paintjob.