Alright i repeated the driving and sitting test again today and no failures yet. It seems to be working ever since the new ignition switch was installed. If it fails again i will be sure to write otherwise my confidence is slowly starting to build in the
Stang again after a 2 for 2 success rate on our tests that we have conducted.
Thanks again for everyone's help, about 250 bucks later i think the problem may have been solved. If this problem occurs to others make sure you read up on the issue a lot and not rule anything out. While mine appears to have been the ignition switch i have read that many other users on the web (not particularly on 65 mustang's) have had a bad starter, a bad solenoid, poor wiring, or even a bad battery. If your symptoms are exactly like mine you may start with an ignition switch to try to lower the $250 expenditure that i sunk in trying to diagnose my problem.
Good luck, and hopefully this post concludes my problems on this thread.