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Looks stunning & if that's your thing then go for it.
With almost any car of that age the real enemy's going to be RUST. With any convertible, I'd be pretty paranoid about the passenger floors and the sills. It rains, there's the chance that some time in the last 30 years that car has been caught in the rain with the top down, and off goes the perfect damp conditions for the floor & inner sills to start rotting!
The big mustangs are now very collectible. just remember that before this car got old enough to be collectible & desirable, it went through about 10-15 years of being just old. Before it was restored to it's present glory it was probably somebody's clunker.
Try & check ownership history & torooughly check the quality of any repairs, especially on the bodywork (is there a professional vehicle inspection service available - perhaps through the Automobile Association of America?).
Mechanical repairs & refurbishment are relatively easy. Bodywork repairs can easily swallow a real $hitload of money.
Good luck,
Mike.
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