We could go hours about which one is better, but this would be a very personal choice. I am almost 44 yrs old, married for over 20 yrs..for me buying a vert was a no brainer...it was a mid-life crisis thing. For you, it may be something totally different.

 

My advice, rent a Mustang vert for a day or two before you decide.

Pro's:
Top down driving
Higher resale value (at least in the summer)
Easier resale (at least in the summer)
There are fewer of them on the road.
Windows-down cruising (top up) is nicer than in the coupe becauseall4 windows down provides a larger opening than the coupe.
No blind spot when driving with the top down, smaller blind spot when driving with the top up
You don't have to wax the roof... or worry about swirl marks up there
You can still get the FRPP's (I have FRPP's 1 & 3)... and all the other ford/aftermarket stuff... (if you want it)
Items cannot be stolen from the trunk by smashing a window and folding down the back seats
It will attact more attention on the road

Cons:
It costs more... just like any other coupe that is also available as a vert
You have to provide some care and maintenace to the top, but it should last for years.
You will want to (and should) garage it at night... not sure if there's any difference, I would still garage acoupe at night.
It weighs a little more... but not noticable... full/empty fuel tank or a passenger makes as much of a difference in weight
You'll want to keep things tucked away in the trunk when unattended.
It willattractmore attention when on the road

 

I have an '05 black/black/black GT 5-speed 'vert. I'm in the "snow belt", technically (Buffalo, NY area), and I LOVE it (just make sure to have a winter beater). I have the top down EVERY day that it's over 60 and not raining. To the poster about the rails all sticking up - NOT so on the new 'verts. If that was your only concern, than I suggest you swing by the dealer and take a peek.. The top folds down and more or less "makes it's own cover" - kinda weird, you'd have to see it - but it looks good!The rails all fold way down into the quarter panels, and on the interior there's a nice textured plastic piece. You can always get the cover for another $179 or whatever,too. Mine came with it (bought it off the lot), and it's nice, but for the frequency that I use it (only at shows, basically), I don't know that it's worth it. But it's very easy to put on and take off, takes less than 2 minutes. The hardest part is getting it folded back up properly. LOL

Now, black/black/black.. Well, yeah, it looks sharp as HELL when it's clean, but keeping it that way.. Well.... Not so much. :-) If you do get a vert, use RaggTopp on the top. Amazon.com sells it for $29.95 for both the cleaner and the protectant. Works very well. Nice sheen, but not shiny, and the water beads right up. Also, get the leather cleaner/conditioner. Another $29.95, but money well spent. It works every bit as good as Meguiar's, but it smells MUCH nicer, and it's not "oily" like the Meguiars is.

Cons to the vert? Ummm.... Ummm.... The ride is a little rougher than the coupe, I suppose.. The chassis is a little stiffer since there's no roof for support, but.. Small price to pay. Just don't put 20's on it and you'll be fine. Oh yeah, and the interior gets dirty faster.. Road dust and whatnot.. But with the top up, it's dry, quiet, and warm.. A very nice car. I do, however, like the lines on the coupe better. And contrary to the other poster, I think the vert looks kinda "bad" with the top up.. Not BAD, bad, just.. Not as good as it does with the top down. LOL I don't know. It's just SO made to go topless...

I don't have any pics right now, but I'll try and post some tomorrow. I voted vert, BTW, if you couldn't tell..

 

Perhaps a higher resale value for the first 4-5 years, but look at old 5.0L and SN95/New Edge 'verts, they are lots more for sale and cost less than the hardtop cars. Although if I were to buy a 'vert, I'd seriously consider an automatic, just seems like they go hand in hand better IMO.
Although theBullitt and Eleanor cars weren't 'verts and both those films were shot in Cali, where it's always sunny(I'm just saying).

 

Is the GT500 new enough for you? As you see, you're wrong. It's a pitiful attempt at hiding the roof. OK, it looks ok-ish from the rear but the side rails are just FUGLY

 

Well well Adam...I didn't know you where considering a S-197. Good job mang! As far as the topic at hand I do like the coupes better, I think the lines are nicer IMO. My mother bought herself a convertible6 years ago and ever since then she wishes she still had it. Granted Vegas is perfect vert weather, I just wouldn't do it. Pricing for a vert is a difference of 31K to about 35K. Payment might be 50 bucks more. Either way good luck....oh yeah stick with the red!

 

I factory ordered an '07 convertible in February and took delivery at the end of March. By June I sold it to a friend of mine, who didn't want to wait for an 08 and I just bought an 07 coupe. I originally wanted a coupe, because I like the looks a lot better and convertible season is short where I live in western Canada, but my wife talked me into the convertible. I'm glad I eventually ended up with a coupe and still think they look better than a convertible. I've received more compliments on my coupe than I did on my convertible, and maybe it's just me, but I see way more convertibles on the road than coupes.

 

De gustibus non est disputandem.

 

Personally I think coupes just looks better for the s197 body style. Besides, a convertible will never look as good with stripes as a hardtop, its a proven fact lol.

 

de gustibus, aut bene aut nihil