Like Foose, I know I'd do some unique body mods that are tasteful and nicely integrated into the fox body styling. Honestly, here's a few basic ideas for things I'd do to one...
Start out with an 87-93 Mustang hatchback LX
18x9 front 18x12 rear (mini tub) ...not 20's, they are too big
Lowered Coilover suspension
Baer Brakes
Custom hood, something not on the market and unique
Restyled front fascia
Restyled rear bumper
Unique new rear spoiler
32V DOHC 5.0 Crate Motor with injection unit and stacks
6-speed
9" Rear
That's just for a start...
Maybe I need to start "The Thread" so we can all put something together?
J