But surely a Mustang GT is just a car while Ferrari is a manufacturer.... that is like comparing Des Moines too Mexico. However I'll go for Ferrari since they ahve made some beautiful cars over the years and they are technologically superior to the American Mustang.
Ferrari is mainly made for speed while the Mustang is built for power and performance. Sure a Ferrari would win as far as speed goes, but a Mustang puts out way more horsepower. So, if the Ferrari's high-speed engine RPMs got to high it would blow, while the Mustang's high performance engines like the 351 Windsor or a 409 Boss engine would just cruise on past it.