I just read your post from 2006 and offer a belated welcome!
I recently lucked into a 1969 Mach 1 myself. Like you, I've always considered the 69 Mach 1 the best looking Mustang that Ford produced. My first Mustang was a 69 Grande that I owned in the late 80's and had to give up when starting my family. Around 2 years ago, I was finally allowed to get back into the hobby by my adoring wife, and I lucked into a 64 1/2 convertible that I could not walk away from. But, I was still keeping my eyes open for a Mach 1 in some kind of decent shape. Well, about 3 weeks ago, I found one up around Altoona, PA. This Mach 1 was in the process of being restored and the owner apparently ran into cash problems and was forced to sell. All the matal work has already been done (new quarter panels). Fortunately, the rest of the car is rust free. This, I guess I should say "my" Mach 1 stll has its original 351 W/2-barrel carb and 3-speed manual
tranny. The motor sounds strong (79K) and hopefully I won't run into any nasty surprises. The Marti report (that came with the car) conforms that it's equipped just as it was when it rolled out of Dearborn on June 19, 1969. On top of that, the owner threw in a 69 coupe as a parts car! It's in primer right now, (originally Winter Blue) and the interior needs to be completely redone along with some other "cosmetic" work, and I can't wait to get going. How is your Mach 1 is coming along?
All the best!