Hi, I am new to this site and have learned quite alot of the new Pony. Wow! I am going trade mine for a 2005 Pony! I was looking at a picture of the instrument panel, does it also tell you the tire pressure? http://www.2005mustang.us/05/MT11-Instruments.jpg
In Mustangs that have the message center, the message center will display a low tire warning message. I don't know if it will tell you the tire pressure in PSI. Since new fed. regulations are going to require all vehicles to have tire pressure monitors I'd guess that at some point when the regs. take effect there will be some sort of a warning light on cars without the message center.
Current NHSTA requirements only mandate low pressure warning. It is thought that most manufactures will opt for the low cost option of using ABS speed sensors to detect different rotational speeds from the tire that is low. This is called indrect monitoring. Cheap but less reliable, especially when both tires are low. Direct pressure monitoring will require much more sophisticated pressure sensors to be mounted inside each tire that communicate with 4 recievers to provide actual pressure to the computer. This will likely be only on high end cars.