Don't be too hard on the Mustang II. While it certainly didn't have the looks of its predecessors or successors, it was a tough little bastard. I put one through total hell in the late 80's and early 90's. I once busted a piston about 30 miles into a 120 mile round trip on the interstate on that little 2.3. I made it to the place I was going and back home. Total smoke show in the process. When I shut it off it basically seized up. It had less than a quart of oil in it when I pulled it apart.
Luckily for me, the trip was to get parts for a rebuild, LOL. Still had to make another trip for the pistons though.
If I could find one in decent shape cheap, I wouldn't mind building a little sleeper hotrod out of one, just for kicks. I don't think that's a real possibility though.