Looks great. I'd leave the stripes off.
I concur.
...the underlying question is: why would the previous owner take off the stripes and take off the shelby lettering from the rear? It seems a lot of work to do in order to blend in with the regular mustang crowd....
I may be in the minority here but I did the exact same thing. Dealers local to me (back when I bought mine) were very hesitant to order (for themselves) without stripes as they all seemed to think that was the only way people would ever want the car and they were ADM'ing to the hilt. I didn't want "SHELBY" plastered all over everything but in order to get the blown mod motor we weren't given much choice. It doesn't take much effort to clean up the car and makes it far easier to fly under the radar when out on the road.