The rust issue has been covered ad nauseum on this and other forums. The only rust issue that the Mustang has is specific to the
untreated metal surfaces on the solid rear axle. The claim that "the thing was so rusted through that it was causing some severe problems underneath" is disingenous and so completely absurd that I can't believe anyone, regardless of their preference in cars, would believe it.
Here's a link to the aforeto mentioned rust issues common with all the S197 Mustang, including the GT500.
http://www.camaro5.com/forums/showpo...7&postcount=13
As you can see, it is only
surface rust. It would take decades, if not hundreds of years for the rust to ever get to the point where it could cause "some severe problems underneath".
As for the rear window, even if such an issue were to occur (which I doubt seriously it did), it would be physically impossible for it to fall
into the car. An issue like that would be all over the various GT500-specific forums anyway, and I have not heard a peep from anyone about such an incident.