Funny, I was gonna start a similar thread. I am currently daily driving my blown notch. Yeah, fun, but the 16mpg of so isn't! For a couple months I have been watching ebay for any decent 87-93 mustangs. A couple have come and gone, but nothing special. The last one that sparked my interest was a SVO. After reading up and them more, I started to really want one. You get the good 2.3 gas mileage, yet the power when you want it. On top of that, 4 wheel disc brakes, and a far superior suspenion.
The last couple days, I have been looking over waiting for the right SVO, or simply getting an average 2.3! Over all, I think its about even, if you do the work yourself. Lets say you get a nice SVO for $4,500. There, you're done. Or you could get a decent 2.3 for $2,000. Then spend $1,500 on a nice 4 wheel disc brake conversion, and still have $1,000 for the turbo 2.3 swap. While this price can vary, I know damn well it can be done for 1k.
A couple things to think over are...
*Do you love the SVO front end, or want teh 87-93 look?
*Interior, pre 87, or 87+
*Color, the SVOs were limited colors, while the 87+ 2.3 were numerous colors
*Body, with a 87+ 2.3 you can get a notch, or vert if you wish.
I'm starting to think the 2.3 is the best choice for me. I have had two in the past, and beat the living piss out of them. HOURS spend doing burnouts in the midwest winters with the tach at 4-5K, over a year without an oil change(topped it off when she started knocking), etc, ETC.
Oh, if you get a regular 2.3, make sure its NOT an automatic. Yes I know most mustang guys hate autos in general, but the one behind the 2.3 is ten times worse than the one they put behind the 5.0! I bought my 88 2.3 with a blown auto. I replaced it and by 20K it was starting to go already. Then the engine blew. A year later, I bought a 90 2.3 with 155K. By the time I sold it a couple months ago with 174K, the auto was about dead. Damn POS trannies!!
Damn, it would be odd to have a 2.3 and take care of it!