Well I went ahead and pulled the trigger on the 01 mustang!!
I couldn't decide if I wanted my V6 or the GT sooooo I got both. It's so much fun. I really enjoy it. I took it to my family mechanic today and he checked it out for a few hours and told me it appears to be sound and in great shape.
What changed my mind about it was the previous owner actually worked at the dealership and he was the only owner of the Mustang. He provided me with his log of scheduled maintenance he had on it. He took very good care of it, just never had time to drive it and traded it in a month ago for a Ford truck. I was also able to talk them down to 7800$!
I love it. I can't believe how much fun a manual GT could be. Plus being a V8 owner after years of getting crap for my V6 feels pretty nice. I'm tired of hearing the ol' "So a V6 mustang and a Miata walk into a gay bar..." or "Hey brah.. you're missing 2 of your cylinders"
I do have a couple of minor issues with it that you guys will have no problem helping me with such as: Speedometer doesn't light up when the headlights are on, Exhaust note is very snappy and redneck when you really get on it, and I want a different shift **** haha. I'll make new threads about those issues
Thank you again guys for the advice and helping me make smart choices when buying a mustang. You got a member for life.