I think this is very common or even "normal" for the Stangs. It annoys the crap out of me. I bought and installed an item between the IAC and intake called something like the Idle Control Kit, according to an archive it was suggested to fix the problem. No luck, when you examine the part it isn't even possible for it to work. In fact the directions said it was to fix a 5.0L throttle stick problem.
I did however unplug the IAC and adjust the throttle stop screw to bump up the idle.
Up Side= No more hanging RPM's, exhaust sounded real mean between shifts, car ran normally.
Down Side= Check engine light stuck on, when I turned the A/C on it tried to stall the engine because the IAC wasn't plugged in to adjust the idle. and who knows what else.