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i have developed one for the 2010-2012 mustang. no cutting, no drilling, no compromises. its not for show either. i am working on the 2005-2009 version now. first post here so i can't post links or pics, but my avatar shows it on my car.
Given the off track experiences I've had, I wouldn't mind a front tow hook. In the rear I have a tow strap that I have attached to one of the panhard bar bolts.