Sitting on a BC Spirit Ferry on the way home from picking up another new test car, and with nothing better to do, I began daydreaming of old Ford Mustangs. Specifically the 1964 originals which I consider to be far more svelte than the current model. All Ford needed to turn these Cinderellas into real princesses was supercharged performance. And who stepped up with a solution? Carroll Shelby, of course.

In 1965 he and his team developed a 289 c.i. V-8 Mustang pumped by a Paxton/McCullough supercharger for 306 horses. Power was delivered through a Borg-Warner 4-speed transmission aided by a 9" no-spin differential. Altogether 50 improvements were included for a reasonable price of $4547.

Among the rarest of these limited production Mustang specials is the one seen here, being offered at RM Auction's Amelia Island sale on March 10, designated by Shelby's crew as an "advanced prototype." This car's history is enough to fill a small book, including apparent star status as James Caan's ride in the movie Red Line 7000. The present owner states that 5010 is the most historic and original 1965 GT350 that he has ever seen... the guy has owned some 20 of these early Shelbys and knows whereof he speaks. Estimated auction price is $500,000-$600,000, a ton of money for a falcon-based sportster but then, it's the ice cream on the pie that often makes a delicious mouthful.