I just dropped my car off to get 3.73's installed. Picking it up tomorrow afternoon.
I talked with the installer and got some info. 3.73's are good for a car that you drive for fun. 4.10's are better for racing. The thing is that with 4.10's your RPM's at 70 are going to be 2800 or more, which is the point where the 4.0 really starts to get loud. If you've got exhaust of any kind you're going to experience massive amounts of drone if you drive over 60mph with 4.10's. On top of which your gas mileage, which seems to be all anyone can talk about these days, is going to suffer a good bit (3-4mpg street and highway). If you drive a lot (50 or more miles round trip per day) then you'll probably be happier with the 3.73's.
Another thing is gear brand. Ford charges an arm and a leg for a brand new Ford gear set and FRPP doesn't make them for the 7.5" anymore. Aftermarket gears are OK but Ford gears are better than most aftermarket. When you go to have your gears installed, ask about having a used set of OEM Ford gears installed. They're better than aftermarket, cheaper and they don't have any break-in period since they were broken in on the first car they were in.
I'm having used gears, which I was allowed to inspect beforehand, installed in my car tomorrow and I will be able drop the hammer and leave both tires smoking coming out of the driveway of the shop.

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Black 2005 Mustang v6, 5 speed, IUP, EUP and Leather.
Razzi 1/4 window scoops, Mustang GT Sway Bars, Flowmaster American Thunder Single Exhaust, Clear Front Turn Signal Lenses, Demolet CAI, X-cal2 91 tune, Hurst Comp/Plus Shifter, FRPP T-Lock, Ford 3.73 gears