Update 7/28/05
My two sons and I went to a test n tune night at Famoso Raceway in Bakersfield last friday. We had a successful night. My two boys finally got into the 14's with their cars ('03 Focus 14.93 and '94 Mustang GT 14.81). I finally made it back into the 12's!!! I dyno'd my car again at Central Coast Mustang a few weeks back, making 253whp/287wtq, the difference being the long-tube headers with extensions (no h pipe this time) and playing around with timing (15 degrees was the best) and the a/f ratio (#8 seems to be the best for Bakersfield). Those numbers are +3whp and -1wtq, in about 20 degrees hotter weather. My first run at Famoso was a 13.15, then ran a 13.04 an hour later. We decided to remove my passenger seat (that's what seemed to work for my 12.85 run) and ice the intake real good and bam!, ran a 12.95@105.xx mph with a 1.73s 60ft time. We iced down the intake again and ran a 12.94@105mph with a best ever 1.72 60ft. I was stoked. We packed it up and headed to In-N-Out for some burgers. :) Not bad for a stock block, cam, injectors and ported stock heads and explorer manny. For this night, I finally had my ram-air back on there, this time a fabbed up a carbon fiber scoop since my son took my old fiberglass scoop for his '94 GT. Pics coming!

My son and his wife painted this sign for my shop for Father's Day! Pretty cool eh?!

I bought this car in '97 from a dealer that had it from a lease. I've slowly made mods to it, mostly do-it-yourself and bolt-on stuff. It has made over 100 drag strip runs, everything from mostly stock running low-15's to my best of 12.85sec @ 106mph at Famoso Raceway in Bakersfield, CA. My best at LACR in Palmdale, CA is a 13.46sec @ 100mph.
This car now has 213k+ miles on the original shortblock. I drove it to work (100 mile round trip) everyday for 5 or 6 years. I finally bought another daily ('03 WRX) and this has now become my toy.
Here is a list of mods for the 12 sec run:

Custom ram-air scoop under front bumper-I made the mold myself.
Home ported stock iron heads
1.7 Crane Cobra Roller Rockers
5-angle Valve job (3 on valve seat, 2 on the valve)
FMS SVO valve springs (with late 60's steel retainers)
Home ported Explorer lower/upper intake manifolds with phenolic spacers for increased volume
MAC Cold Air Intake (hooked to custom ram-air)
MAC 1 5/8" Long Tube headers
Custom Catless H-pipe to Long tubes (with stock catback/muffs)
Hurst billet shifter and Hurst knob
Motive Gear 3.90:1 Rear gears
Eaton posi diff
Superior Heavy Duty 31-spline axles (busted a stock axle during a drag launch on slicks)
FMS Aluminum driveshaft
FMS King Cobra Clutch (Hayes clutch disc)
Steeda Firewall clutch cable adjuster
Home drilled front brake rotors
NGK UR55 Plugs/ MSD 8.5mm plug wires
MSD 6AL ignition with 2 step rev limiter set to launch usually at 4600-5000 rpm with button attached to shifter (see pic)
15x8" Weld Draglite XP wheels (don't fit great, don't recommend) with used 8" slicks
MAS sensor adjuster box and extender
190lph fuel pump
Custom homemade subframe connectors
Lakewood 50/50 drag shocks in rear, stock front shocks
Remove front swaybar for drags
Relocated rear lower control arms with rear end rotate 2 degrees
Reinforced upper/lower torque boxes
Uncork after H pipe for drags
Stock injectors
Stock Camshaft

I dyno'd the car at Central Coast Mustang in my home town, results:
250.4 whp @ 5200
288.7 wtq @ 3800
uncorked after catless H-pipe

New mods just purchased and waiting install:
Iron GT-40P heads (I will do some port work & valve job)

Hoping these new mods get me to 12.5's, but we'll see. The short block is probably needing a freshening up with its 200k+ miles.