For anybody interested in the plain-ole drop in filter, K&N now has one available for our '05 Stangs:
http://www.knfilterchargers.com/search/product.aspx?Prod=33-2298
Price on K&N's site is $58. Can't find it listed on any of their online resellers' sites yet.
http://www.knfilterchargers.com/search/product.aspx?Prod=33-2298
Price on K&N's site is $58. Can't find it listed on any of their online resellers' sites yet.

I'll reserve judgment till seeing another dyno run with the K&N in place. In any case, surely it has to be superior to the paper filter.