The 5 Speed Auto should significantly improve the performance of the 2005 Mustang, both V8 & V6. The big deal with the 5 speed auto is that the ratio spread between 1st and 5th is greater than 1st to 4th on the 4 speed.
Specifially, 1st gear on the 5R55S is 3.23:1. 1st gear on the 4R70 is 2.84:1.
This means that by putting the 5R55S into the Mustang it is going to perform off the line like it has a 3.76 rear end in it, so you can expect a big jump in Mustang automatic performance and just how fast it feels off the line.
Ford also has 6 speed automatics coming in both FWD and RWD versions. I don't know if the 6 speed will be used in the Mustang. I don't have the link handy, but if you go to media.ford.com and start searching you will be able to find info on both the 5 speed and 6 speed automatics.