Faults:

The transmission sometimes slips between third and fourth gears, causing a sort of "kick" to be felt by passengers.

The radiator was cracked, though this was the fault of the previous owner and not of Ford.

Inexplicable oil drip (I heard something about a bad valve causing the oil filter to balloon when the engine gets hot, I will look into replacing this valve).

General Comments:

This car has impressive styling, even for one 5 years old when purchased.

The wraparound dash is very impressive and modern in appearance.

Since I also own a 2000 F250, I find it humorous how many parts are carryovers (lock/window switches, dome light, etc).

Despite the slightly annoying shift gap in the transmission, the car runs extremely well. The 3.8L V6 without the supercharger performs very well once you get this 3600 pound car going; however it's initial acceleration from a stop tends to drive it to 2500 rpm or so with only casual acceleration, and it occasionally runs as high as 3000 rpm resulting in a somewhat over-aggressive sounding exhaust note that makes it seem more like I am trying to shotgun from rest to 60 instead of trying to accelerate at the pace of other traffic.

Other than the sluggish initial acceleration, I would say that the engine seems more powerful than its horsepower rating.

The bucket seats are very comfortable. The positioning of the cupholders is terrible, right at your elbow, although there is little room for cupholders elsewhere. The armrest in the rear seat is a nice touch; a fold down rear seat would have been useful.

Overall, a great car with a few minor problems (as any used car is bound to have its imperfections).

Faults:

Nothing major has gone wrong with this car.

The brakes needed to be done all around, and produce heavy brake dust.

Lights for drive indication and dashboard are almost all burnt out. Have replaced the cyclops lights for the brakes twice and have both burnt out quickly after.

General Comments:

I agree with the cupholder issues. They are in a bad spot and do not fit bigger size cups. But, difficult to put anywhere else in the car.

Car is fast and still feels great to drive after 6 years of owning it. It will be hard to trade up to a new car.

I like the low-to-the-ground feel and bucket seats. Car came with many options including, traction assist, auto lights, cruise control, digital climate control, etc.

Faults:

Nothing on the car has really gone wrong, it's just a few things that annoy me while I am driving:

The suspension constantly talks to me when I go over bumps (even the smallest bumps).

When to get fluid changed in transmission ($49.99), but found out my transmission was leaking fluid from faulty gasket ($183.00).

Who in the !$#^# designed the cup-holders, they can't hold a large drink from McDonald's, and they're in the center glove box.

Why did Ford put a governor on the car? (pretty much tops out at 105)

Slow to downshift transmission gets annoying. You have to push the pedal and wait a few seconds before it responds. And when you want it to upshift, it holds on to that gear.

General Comments:

Despite all of these annoying problems, I love this car. I was shocked to see the car run with a Mustang GT. It kept up with it.

The whole car itself is quiet and very comfortable to drive. If I want the T-Bird to move, it will move. The power from the V8 is sweet. I love turning of the traction control and smoking the tires for all the punks in those sorry Honda's and Acura's whose cars are "all show, no go". They may get me at the jump in a drag, but I get to the quarter mile quicker.

The car also handles well for for its size, and stops reasonably well. I love the attention I get at school (I'm only 17). The styling is nice on the car (inside and out). Outside, it's kind of like a two-door sporty version of the Crown Vic and the interior dash is like the Mustang.

Reliability has been good (for a Ford). By the way this car runs, I would get another one if anything happens to it.