eh?????
A push rod V8 has a camshaft too
it seems to be pretty well excepted that the LT1's (and variants L98, Lt4 and so on) where very grunty low down motors and not much top end. The LS1 on the other hand is an entirly new and different engine, it may still be a push rod V8, but that doesn't mean its an old design. They are know to have less low down grunt and be very rev happy with loads of mid and high end power.
The 2v SOHC Mustang engine may well use a different design ethos but it doesn't mean its a superior design.
And not being an American I don't go in for all this Ford v GM bollox, if you look on an Fbody site they say that Mustangs have poor build quality and fall apart, were as if you look on a Mustang site they say the exact opporsite.
And as much as many of you will hate it, I should imagine the build quality is pretty similar between them ALL.
As for which one to go for, well that should be a personal choice. They all look good and are all fast. If you get an LS1 with all the boltons and a cam and a heavy duty rear end you will see 400+rwhp. Or for about the same money you could get a 99+ Mustang with a KB blower and also see 400+rwhp.
Its pretty even odds, and I should think its the same story with handling too, they both use basically the same setup (live rear) and weigh almost the same.