It handles really well actually. I had a nice set of used 245 Hoosiers for the track, and I've done a good bit to the suspension and driveline to improve it's handling.The problem with the car on the track is in two places.
1) I need to get 5th gear changed to something useful on a track. I was sitting at 110mph every strait because I couldn't even consider acceleration in 5th gear. (It wouldn't hurt to have more than a stock 95 Mustang engine)
2) It's a body on frame design, and the body mounts are all but disintegrated, and are an obsolete part. But I've got plans for a poly mount kit that I've got ready when I get the motivation to do it.

tie_fitr, not sure if you were joking or not, but the side shot is from a drift event at Pungo.