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They've been laughing all the way to the bank with the Mustang ever since 1964. Some people buy a mustang for nostalgic reasons-- I've got a mustang! I've got a mustang! blah, blah... Now, it makes sense to double your efforts and come up with something to extinguish the blazing inferno known as the Chevy Camaro; but with the kind of fan force that's behind the mustang, you can bet ford's not doing anything significant unless sales reflect otherwise.
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Actually the rumor mill on most of the ford forums is they are looking at just some minor tweaks
AS the camaro comes out and then a major body change(towards the italian design, not exact but with queues from that) with a new engine tech in 2011/2012, which really makes sense cause they wait till the camaro and challenger specs are out and then one up them.
Personally I have been following all 3 cars because I want a muscle car, and NOBODY can deny that really the only 3 on the market in 2009.5 will be the camaro/challenger/mustang. Each for me has their own good and bad points.. but with the information we have now the camaro has the better chance of getting my money.