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I've had my car on the dyno and it made about 372 hp at the wheels and 405 ft-lbs as best as I can recall. I've had it down the 1/8 mile, but never down the 1/4. My best 1/8 mile time was 8.90, and that was with a 60' time of something like 2.15. Yes a gear swap would make a huge difference. They make 3.92's that bolt in.
The Mustangs that were Hertz cars was the Shelby GT350H. I think most were black and gold in color. I think they were 65's, but could have been 66's.
Dave if I were your next door neighbor and you were willing to spend some money, we'd get that car in the 12's. Right now you are moving at about a high 13 clip. Your biggest problem is weight so you need a lot of torque. I'd find a gear set of at least 4.33's somebody must make for that car and with a good tire, some headers and a tune, you're there! My best is a 12.87 with only 106 mph trap speed. Most of my races are over in 1st gear as the truck pulls like a beast in that range but it has 4.56's. I did get walloped one night when a 360 Dakota ran an 11.82. Not much of anything pulls me out of the hole but he did and just kept going. There are some crazy fast street cars now a days so you gotta be careful who you choose for a go.
You are correct about the Hertz cars. (66) They also came out with some white one's with gold racing stripes and a few that were blue with gold stripes but most were black with gold. They were all automatics if I recall. Hertz continued to rent "racing Mustangs" all the way up to 1969 but they were not real Shelby's
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