This superb example of a '67 GT350 is owned by David Hoffman. Powered by Ford's hot hi-performance 289, the 1967 GT350 was rated at 306 horse power. Shelby American added a COBRA aluminum hi-rise and a 715 cfm Holley carb to increase the stock 271 hp. This was the last year the hi-performance 289. Beginning in 1968, Ford provided Shelby American the new 4-bbl 302. The 1967 GT350 did not come with the Tri-Y headers used in 1966. Stock cast iron exhaust manifolds were used. The 289 did come with finned aluminum, "COBRA - power by Ford" valve covers with solid letters. All the four speed GT350's came with a Ford toploader 4 speed transmission. Ford's C-4 automatic transmission was an option. The Paxton supercharger was an option on the GT350 only.
Off the shelf Cougar tail lights and a fiberglass rear spoiler changed the rear of the stock GT Mustang to a Shelby GT350. Note the upper and lower side scoops. The lower scoops were originally air ducts to force cool air to the rear brakes. Only the early 1967 cars had functional lower scoops. The upper scoop works very effectively to draw cool air inside the cockpit and warm air out. The 1966 Shelby Mustangs did not come from the factory with a rear spoiler or the top side scoops. (The scoop idea came from racing cars like the GT40.)
The fiberglass hood was replaced in 1968 with a different design due to excess wind noise from the hood scoop. Note the inside centered hi-beam lights. Some states, California in particular, wouldn't allow the hi-beams that close together causing Ford engineer, Fred Goodell, to come up with a different front grille to move the lights to the outside. California also had a problem with the inboard lights just infront of the top scoops.
Dave sent a nice from the top shot of his GT350 showing the stripes. You can't tell it from looking at the car but the stripes are not evenly applied. They taper in proportionally. (You can find more info on the LeMans Stripes in the Shelby section under Reference Materials.)