Ken04

First; it's your car, you really need to make it your car, with your sense of style and what looks good to your eye. Asking for opinions is cool, but keep in mind no matter what you like, there is always someone who hates it. The best thing to really do is look at as many Mustangs as possible. Try envisioning how your car would like with that persons modifications. You don't want a carbon copy of anyones car. SO if you like stripes, get stripes. Regardless of someone saying to get them painted on, once you do you can never change them unlike vinyl stripes. And vinyl stripes can be bought for right around $100-$150. A blue car with white stripes looks killer to me, but again, it has to look good to you every time you walk up on it, so really think about what you want.

Most people buy the Diablosport or the SCT X3 for tuning your car. That isn't a preference like a paint color is, so based on good reports from everyone using them that's where I'd look for tuners. If you buy a tuner from Brenspeed or Blow by racing you'll get a better tune than the tune that comes stock. Alot of people have been very happy w/BBR and their tunes. Brenspeed is a good company also as are many others. But do some research on tuners and tuning companies first.

07 Stang

My first mod was to have true duals installed. I think it looks and sounds so much better than the putt-putt V6 muffler. Then I had tint installed on my back glass and ¼ windows.
I just ordered the Silver Horse Racing ¼ window louvers as well as sequential taillights.

Tint will help keep the interior cooler in the hot summer months as well as making your stang look stealthy.
I agree with the above poster, if you want stripes, have them painted on or at least once the vinyl ones are installed, have a coat of clear coat painted over them to help make them last longer. Avoid vinyl stripes that have metallic flakes in them like silver or gold. They will fade much more quickly than other colors.

Next mod on my list is to buy a CAI and tune. Got to have some go with all the show!

Deadbeat

OP, since it's your first car, in my opinion, you should go with looks (tint, stripes, louvers, etc.). I'm only saying that because, like you said, its' your first car.

Assuming you've never really 'driven' any other car (besides the one(s) you've learned on), our 4.0s make enough power to really enjoy the car in stock form, especially if it's your first car.

My first car was a 96 Civic DX with about 96hp. (cool car to learn on, I was 15 at the time). After a couple years of driving that, I bought a 2004 v6 Mustang. Let me tell you, going from 96hp to 195hp was pretty cool, lol. It was a really fun car to upgrade to.

Anyways, keep us posted on what your plans are. And congrats on the Pony!