It’s 1964, and Ford has just introduced the Mustang. The youth market, as it is called, responds with near evangelical fervor, as do several older buyers. Soon Ford is scratching for capacity great enough to meet demand.

Suddenly, it’s 1979. The Mustang drops its Pinto-based chassis and makes a break with clean, European-inspired styling. The study of aerodynamics is making its presence felt at Ford, and the Mustang – even if it’s not particularly aerodynamic – sure looks slippery to the naked eye. Sales rise. The Mustang is back.

It’s 1994. Ford updates the 15-year old Fox platform, adopts styling that resurrects the Mustang’s three-section taillights and side scoops, and integrates a late-1950s Corvette “double bubble” instrument panel into the overall theme. The public responds, and sales rise to near-1979 levels.

Now it’s 2002, and the Mustang hasn’t changed much. Sure, the sheetmetal was updated a while back, but the underpinnings are the same. The manual gearbox has a notchy, agricultural feel. Driveline “shunt” – the judder and thunk that arises when slack in the drivetrain is taken up under acceleration, or released during deceleration – is pronounced, and the pedals occupy the same basic area but operate on three different planes. The convertible’s body  flexes like a cardboard box without a top. And though the side mirrors are larger than they were in 1979, the one nearest the driver doesn’t swivel enough to allow it to be adjusted outboard adequately for tall drivers.

But there are pleasant surprises as well. The power top is lined, and the rear window is glass with an integral defroster. Putting the top up and down is a breeze, except for the need to wrestle the locating pins into the windshield header nine times out of ten. Adding the optional Mach 1000 audio system (that’s 1,000, as in watts) isn’t as stupid as it might seem, even though it fills the trunk with four amps and two large speaker enclosures. With the top down and the wind blowing through the interior at speed, cranking up the volume produces a crisp, clear, distortion-free sound that rises above the wind, but doesn’t overpower your ears. And given the age of most Mustang convertible drivers on the road these days, that’s a plus when trying to hear your favorite talk radio host over the road noise and wind roar.

Which brings me – finally – to my point. The Mustang entered the market as a youth-oriented vehicle that offered unique styling and a sense of freedom. The present Mustang is a recapture-your-youth vehicle for those who either owned an older Mustang, or wish they had. It has a retro feel, look, and sound, but lacks the polish and precision of a modern vehicle. Which makes me wonder: If this is all there is, what’s the point?