I'd rather see it evolve to even more like the '69 Z28. Optional hideaway headlights and hounds tooth, back windows that go down... Shrink the whole thing down the current Mustang size to compete better in that weight class. Increase the greenhouse a bit to improve visibility and ATM useability.
Basically take a '69 Z28 and modernize it but keep the classic lines. Some of the Pro Touring '69 Z28s out there that people have customized are absolutely stunning.
Body lines like this:
but lose the chrome, darken up the tail lights, lower the roof just a hair..... and of course, call it a Z28