Among the most recognized American automobiles on the road now and for over forty years is the Ford Mustang. Perhaps in homage to the heyday of U.S. automobile manufacturing prowess, 2012 sees the return of the Mustang Boss 302 trim with its tweaked 302-cubic-inch V8, up-to-date 6-speed stick shift, and 3.73:1 axle ratio. Thus, this venerable pony is now available in five trims, the V6, V6 Premium, GT, GT Premium, and, of course, the Boss. All trims except the Boss 302 are available in either hardtop coupe or convertible versions, while all five trims are rear-wheel drive only, and all will accommodate up to five passengers, though the Boss 302 can have the rear seat deleted as an option. A noteworthy improvement in the 2012 Mustang is the standard adjustable effort settings for improved power steering control in the GT trims. Trunk space, meanwhile, remains at 13.4 cubic feet in the hardtop coupes and 9.6 cubic feet in the rag-tops.

Competition in this rarified muscle market continues to consist of Dodge’s touted Charger and Chevy’s slick-looking Camaro. Among professional reviewers, the thinking goes that the Mustang is far and away the best retro-bully on the block and can be had for a wallet-friendly price as well. The 2012 Mustang, after all, starts at a negotiable $22,500 for an optionless V6 hardtop coupe.

Powering the 2012 Mustang V6 and V6 Premium trims is a sturdy and potent 3.7-liter V6 engine that mates with a standard 6-speed manual transmission for 305 hp and 280 lb-ft of torque. These ponies are rated to tow up to 1,000 pounds, though it must be said that trailer towing is not among the ordinary Mustang owner’s priorities. Additionally, a 6-speed automatic is available with the V6 and V6 Premium that’s estimated to get 19 mpg city/31 highway with variable valve timing (VVT).

Though the V6 is an admirable engine, at the heart of the Mustang's charisma is a good, old-fashioned, kick-butt V8 powerplant. The 5.0-liter version, now with variable valve timing and a standard 6-speed automatic transmission, graces the 2012 Mustang GT and GT Premium trims. This powerful mill generates 412 hp and 390 lb-ft of torque, and with the available 6-speed automatic transmission is estimated to get 18/25. That same 5.0-liter/6-speed stick-shift powertrain, in a more track-oriented variation, can be found in the Boss 302. Tweaked to put out 444 hp and 380 lb-ft of torque, expect 17/26 from this monster, which wouldn’t be caught dead with an automatic transmission, 6-speed or not. If there’s one thing that separates the Mustang from the rest, it’s the sweet note from that 302 V8 when it’s flat out on the open road (or the track).

Though the use of somewhat low-budget cabin materials continues to plague the entire Mustang lineup, Ford’s touted techno-wizardry goes a long way toward alleviating that particular malady. The base V6 and GT trims, however, leave out much of this technological bling in favor of standard 17-inch painted alloy wheels, cloth upholstery, remote power door locks, front power mirrors, power front windows and cruise control. Tilt-wheel steering, air conditioning, a trip computer, and a single-CD player with four speakers are also delivered with the base trims. Moving up to the V6 Premium or GT Premium version gains leather upholstery, leather and alloy dash and door trim, and a leather and alloy steering wheel, as well as a good representation of the above-mentioned techno-features. The Premium trims in both V6 and GT boast standard goodies such as a power-adjustable driver’s seat with power lumbar support, universal garage door opener, electrochromatic rear-view mirror, and the popular Sync system with Navigational Guidance and Destination Download features. Entertainment in the V6 Premium and GT Premium comes via eight standard speakers, along with satellite radio, Bluetooth hands-free communications technology and a USB connection. The GT and GT Premium additionally boast 18-inch painted alloy wheels and an integrated rear spoiler, standard. All Mustang convertible trims are, of course, delivered with a power-operated cloth roof.

The Boss 302 flaunts its pedigree in performance rather than hoopla. Appearance-wise, it distinguishes itself with standard 19-inch alloy wheels and performance tires, while its only concession to creature comfort, besides the basics found in the V6 and GT trims, is a unique suede and alloy steering wheel.

Options for the V6 and V6 Premium trims include the V6 Performance Package, with 19-inch alloy wheels, upgraded suspension and brake components, a 3.31:1 axle ratio and upgraded stability control to take those hairpin turns just a little bit quicker. The Electronics Package, available across the lineup, includes voice-activated DVD navigation, HD radio and dual-zone climate control, while the Brembo Brake Package, available with the GT trims and the Boss 302, offers 14-inch Brembo rotors and calipers, with 3.55:1 and 3.73:1 limited-slip axles also optional for the higher performance trims. Standalone options, meantime, include a glass roof, remote engine start, a power-adjustable passenger seat and heated front seats. All Premium level Mustangs can also be delivered in the Pony package and the Mustang Club of America Special Edition, each boasting 18-inch alloy wheels and upgraded exterior and interior trim, along with a standalone rear-view camera system. Finally, the GT Premium can be delivered with a 1,000-watt Shaker audio system with 10 speakers, as well as a rear-view camera, while the Boss 302 is available with Recaro cloth sport front seats, a Torsen helical differential, and unique badges, stripes and insignia.

Many of the traditional vehicle safety items, such as four-wheel antilock brakes (ABS), as well as traction and stability control, are standard with the 2012 Mustang. Additionally, standard dual front side-mounted airbags and a post-collision safety system are in place for occupant protection, as is the well-received MyKey system, featuring owner-programmable speed and audio sound limiting that adds some peace of mind when Junior takes the ‘Stang out for a spin. Premium trims additionally get standard airbag deployment notification with the Sync system, while both GT trims as well as the Boss 302 boast standard front fog/driving lights and dusk-sensing headlights. Depending on the trim selected, optional safety features can include HID headlights, rear parking sensors and an active antitheft alarm.

Owners of the 2011 Mustang have some issues with occasional hesitation in the automatic transmission on takeoff, as well as the placement of some of the controls and illegibility of buttons and gauges. Some styling glitches, especially with the rear fascia, as well as the lack of standard HID headlights and telescoping steering column, also have a few owners scratching their heads. But all this can’t get in the way of the kick that virtually all owners get from driving this hopped-up pony. Nearly unlimited handling and performance configurations, decent, if not overwhelming gas mileage, that sweet V8 melody, and even the sense of getting a high-performance automobile at a bargain price combine to ensure owner satisfaction with any Mustang they choose.