While there is no 05 Mustang GT 350, there will be an 07 Shelby GT350. This is basically a GT-H for the rest of us. HP is upped to 325 with other trim options like the GT-H. It is slotted between the Gt Premium and GT500. This is a genuine Shelby product built in the Shelby Las Vegas facility.
It is available in two colors only with broad racing stripes down the center. White and I believe metallic grey. Nice looking cars, they will be available in January 07. No info on price.