SOLD!!  Saleen only built 500 of these special editions, and half were sold before production began in late 2006. This Saleen is number 388 out of 500. The styling is a dead ringer for one of the best-looking Mustangs of all time: Parnelli's '70 Trans-Am championship-winning Boss 302. The Saleen has approximately 5000 miles on the odometer since new.

It began when Parnelli came to Steve asking for a nice late-model Mustang. Parnelli wanted a fun car to drive. After racing with Saleen in the '80s, and with Saleen's headquarters close to Parnelli's Southern California stomping grounds, Steve's company was a logical place to go. Recognizing an opportunity when it came knocking, Steve answered with the 500-example run of the limited edition we see here. The car is wholly a Saleen production-it was designed, engineered, and produced in-house at Saleen, but Parnelli instigated the idea, gave the prototype a good thrashing during development, approved the car, and has taken a pair for his own use.

Saleen begins with a new Mustang GT, removes and disassembles its Three-Valve engine, and then rebuilds it using a forged-steel stroker crankshaft and connecting rods, as well as forged pistons. The cylinder heads are ported and fitted with more rpm-oriented camshafts, better valve springs, retainers, and such. Supporting pieces are underdrive pulleys, a more boisterous 211/42-inch stainless steel exhaust system, 24-lb/hr injectors, a 98mm mass airflow meter, and a more functional version of the late Mach 1 Shaker hoodscoop.

Inside, the orange and black seats dominate the initial impression, but the details pop out. The steering wheel is stock, but the center button is now a Saleen PJ medallion. It doesn't take long to see the PJ logo scribed on the weighty aluminum shift knob; the shifter it's mounted on is a short-throw unit. Peering into the instrument wells show that the instruments are recalibrated into PJ specials.