Clutch Slipping?

Recently I've noticed that it feels like the clutch is slipping when I get on it, most noticable in second and third. I have the FMS adjustable clutch cable and I'm wondering if maybe I over tightened it and it's not allowing the clutch to fully engage. Is this possible, or is my FMS HD clutch taking a dump on me only after 5000 miles?

Thanks
Dave
 
If the point of engagement is near the top of the pedal travel, that is entirely likely.

As Nate said, dial in a little bit of slack (the cable is unsheathed at the clutch fork, so you can tell from underneath) and see how it does. The point of engagement will move closer to the floor.

Good luck.
 
A way to check and see if the clutch is indeed slipping is this:

Drive in 5th gear real slowly, to where the engine speed is around 1000rpms or so. Then hammer it. If the engine picks up speed quicker than the car does, obviously the clutch is slipping. If the engine and car takes forever to accelerate, it's probably not slipping.

I've tried in several mustangs, it works!