there's 1 problem with this, and that problem is why it looks so good; that car will require a LOT of body and suspension fabrication, as you're essentially raising the fender wells and dropping the car MUCH lower onto the wheels. the main reason mustang IIs are so ****ing ugly and awkwardly proportioned is because they have the fender wells a ****in pickup truck, with LOTS of fender above the tire...
... change that one thing and you have a significantly better looking car(frankly, i've never found the nose, belt line, or roof line of the II all that unattractive, it's just that absolutely ridiculous stance that just kills the car completely).
having said all of that, hopefully someone actually goes for it and throws a shit load of work into a shit car so we can see how badass one of these can potentially be!