xOrion73x -
Welcome to EM! You will find a good bunch of Mustangs here. To find out if you are OBD II compatible, go to an Autozone style store and see if they can read your car's OBD II port. Hmmmmm, but that will only "officially" cover scan codes. You want more info than that.
From what I understand, 1996 was the year of mandatory compliance, but the auto companies were implementing the OBD II spec early in some cars. I am betting you will be able to see "some but not all" OBD II variables. On Mustang forums you might get a better answer to this. Also, some of the other Mustang owners may be able to chime in for you.
I just went here and looked for your Mustang :
ScanGaugeII - Compatible Vehicle List
Code:
Year Make Model(s) Engine(L)
1994 Ford Mustang 3.8
1995 Ford Mustang,Windstar 3.8
It looks like they implemented it on the 3.8 Liter drivetrains. Since you have a 5.0 Liter, your iffy for compatibility.
CarloSW2