I've got a '70 XR-7 Convertible nearly through a restoration, and a '67 XR-7 just out of the paint shop, being made into a daily driver swinging a 5.0L/AOD EFI. I can't wait.
Yeah, it's based on the new Mustang. The guy that did it said so, but you have to remember, the '67 Cougar was based on '67 Mustang underpinnings. Heck, if you want to get right down to it, 1965 Mustang owners could hear from Falcon owners saying, "Do I smell a Falcon?"