The speculation about a $20k V-8 is
not coming from Bill Ford. It came from J. Mays introduction speech. Knowing what he has said in the past and his overall passion for this car I don't think he would be getting this seemingly important detail confused. I think it is entirely possible we could see another LX 5.0 style package for $19,995. They have said numerous times that they want to have diversity throughout the Mustang lineup and I think this would be a good way to do it. Another interesting thing is that currently Mustang production levels are around 130,000 units annually. I have seen quite a few quotes saying that they expect the first year of the 2005 to be around 180,000 units. With the increase in cars they could very well sell some more base V-8's (non GT's) and still make their bread and butter on the V-6's and not have to cut into GT sales.
Here is the clip that everyone is talking about:
http://www.warnerrobert.com/videos/mustang.htm