I think the faux cap is one of those items iconic with the 1st gen mustangs. I just think it looks incomplete without it. That is one of my big complaints about the S550.
I agree. It's not a bad look by any means. I just think it looks so slick without it, but I like my cars really understated. One of the things I like so much about the Corvette is that it doesn't need badging. I love that the C6s have the name Corvette stamped in the bumper and from there it's just the little flag icon. I don't think the Mustang body needs anything for people to know it's a Mustang.
The body is so unique that it just doesn't command that kind of ornamentation. Hell, if I didn't have the 45th Anniversary I'd shave the side emblems, antenna, 3rd brake light, spoiler, and faux gas cap. I'll definitely be shaving the whole trunk at some point, but the others will likely stay. Hell, I'd love to get rid of the actual fuel door and run the fill neck into the door sill, but I have no interest in turning this into a show car, and I've only seen that done once before on a Corvette forum. Totally slick. It really let the body lines speak for themselves.
This is one of my favorites. Shaved faux gas cap, shaved 3rd tail light, spoiler delete
If I was going to do that, I'd have to go all the way.
I'd cut out that whole section and replace it with a super dark sheet of plexiglass so that it looks like one solid sheet of black painted sheet metal, but LED lights mounted behind it show when lights are on or you're on the brakes. Otherwise it would look like it has no brake lights.