You bring back memories. That looks just like a car one of my brothers owned when I was 17, right down to the color. Differences: His had Rally Sport wheels, Remington G70-14 tires, a rear gear that was too tall for his tastes, and no cluster of gauges. He always cursed that Muncie shifter. For me at that age, it was simply an awesome machine. He let me solo a few times in it. I survived (and so did the car) mostly out of fear of having to pay for it. I can attest that his would reach 110 in 2nd before redline, however. Even with that gearing, that 396 could smoke the tires as long as you could stand the cost.
I was lucky: My oldest brother had a red convertible Camaro SS 396 in which I took my driver's test when I was 16. The hood looked like it went on forever when I was sitting there with the cop beside me. It was the first new car anyone in my family ever had. There was some option he wanted on it that the dealer said was only available with some other model, but which suddenly became available when big brother pointed out there was a Mustang dealer about 1 minute down the road. (I can't imagine that particular brother even driving a Mustang, much less ever owning one).