Sometimes, cash cows simply can't be milked any longer. Ford has produced (or, in the case of various Shelby vehicles, helped produce) a dozen different variations of its iconic Mustang since 2005 - some of which cranked out upward of 600 hp. And while special-edition Mustangs are a powerful novelty, the blue-oval brass decided that a newer, refreshed 'Stang should battle the upcoming Dodge Challenger and Chevrolet Camaro.

Enter the 2010 Mustang that will hit showrooms in spring 2009. America's original pony car won't get a complete revamp, but it will at least get a reshaped front and rear, a freshened grille, new headlights, and updated vertical taillights. Although the 2010 Mustang's styling is still hidden under heavy camouflage in spy photos, a close look shows exterior features inspired by the sleek, Italdesign-penned Mustang by Giugiaro concept (below) that debuted at the 2006 Los Angeles auto show. A full-glass roof like the one from that car may be offered.

Powerplant options - largely influenced by the recent rise in CAFE standards - likely will include a twin-turbo EcoBoost V-6 and a 5.0-liter V-8.

THE OLD GRAY MARE, SHE AIN'T WHAT SHE USED TO BE: The current-generation Mustang is getting old, and while we like the idea of a turbo V-6, we'd still rather that Ford spent the money to reduce NVH and polish the rest of its aging horse.