1970 Shelby Mustang GT500 Swaps Factory 428 Cobra Jet V8 for Something Even More Muscular

What’s interesting is that 1970 model year Shelby cars were actually unsold 1969 units, given 1970 vehicle identification numbers (under FBI supervision no less). These cars featured minor changes compared to the 1969MY and were in no way less desirable.

Performance–wise, they meant serious business thanks to their 335 horsepower 428 ci Cobra Jet V8 engines, although if speed is your top concern, the 428 CJ V8 can be improved upon in many ways or ditched altogether.

Such is the story of this Grabber Green 1970 Shelby GT500 Mustang. It sold at auction recently for $85,500 despite not being a numbers-matching car and having undergone loads of modifications – probably more than most people would have liked.

The end-result is still impressive though, but first things first. Let’s start with the visuals and work our way in.

Aside from the green exterior, this Mustang also comes with white side stripes, a drag racing hood scoop, and widened wheel wells (by 1.5”) to make room for the larger tires.

Then you’ve got the Lucas driving lights, NACA-style hood ducts, quick-release hood pins, functional side scoops, body-color mirror covers, an integrated rear spoiler, and a set of 15” five-spoke wheels with Cobra-logo center caps, 215/70 BFGoodrich Advantage T/A rubber at the front and 295/65 Mickey Thompson ET Street S/S tires at the rear.

This very special Mustang was also optioned with extra heavy-duty suspension and has since been fitted with KYB Excel-G rear shocks and traction bars.

Meanwhile, interior highlights include the black vinyl high-back bucket seats with red accent stripes, color-coordinated door panels and carpeting, woodgrain accents (on the dashboard and doors), a Hurst shifter, tilt steering column, push-button Philco AM radio, black rubber Ford Racing floor mats, a three-spoke steering wheel, auxiliary gauges, plus seatbelts with roll-bar-mounted V-style shoulder harnesses.

As for what’s going on underneath the hood, I’ll admit, you’ve waited long enough to learn what sits in place of that factory-standard 428 CJ V8. Drum roll please... and it’s a replacement 427 ci side-oiler V8 with tunnel port heads, a 1,050-cfm Holley Dominator Model 4500 carburetor, ceramic-coated long-tube headers, Flowmaster mufflers, an MSD distributor and more.

Power is sent to the rear wheels via a four-speed manual transmission and an Eaton Detroit Locker differential. How much power? Unsure, but according to an old article, this thing used to be capable of putting down mid-11-second quarter mile times at 123 mph (198 kph). Not too shabby indeed. This is a good old fashioned street racer with a “no prisoners” mentality. No wonder it sold for $85k.