Actually it's like 5th in terms of performance in the Mustang pecking order of street cars delivered by Ford. Lets think of some factory Mustangs that are better performers than Terminators.
-2000 Cobra R
-2007+ GT500(which have had several big updates, but we'll count it as one car)
-2011+ Mustang GT
-2012+ Boss 302
00R quicker than an 03/04? I think not. Better handler, yes. Full suspension, rear seat delete, no a/c or radio, and only a wing an SRT4 owner would love. $20K more expensive, if you could get one at sticker.
At it's time of production it was the baddest Mustang made. It brought respectibilty back to Mustang lost from 96 on in 2v platform, and even the 4v N/A cobras were really a step behind the boys from GM.