RE: A decades-old battle will soon re-ignite.
I fought in the last muscle car war, at least in the closing battles during the mid and late 70's. It was a blast. It's funny how times may change but some things really don't. The Mustang was a good looking car, but few examples had the guts to keep up with the Mopars at the time. Pit their small blocks against a 318 or 340 and they typically lost real bad in street races (their best effort was the Boss 302). The 390 was no match for the 383 Magnum. The 440 would certainly give any of their 427-429 models a hell of a run for a lot less initial investment, if not blow them away. The Hemi (if kept in proper tune) was a rare sight on any street, but was usually king of the street too. I never lost a street race to a Ford back in the 70s. Sorry Ford lovers, the big Blue Oval didn't give you your money's worth mechanically! Sure, they had nice styling on the Stang, but not the nuts to back up the looks unless you were going to pay Hemi prices (around $700 back in the day) for their best engines.
I own two of the old Challenger R/Ts (a 70 and 71) and my wife loves them, but when the new Mustangs came out she was oooing and ahhing over the retro look. When Dodge unveiled the concept Chally, she immediately became enthusiastic over it and now when she notices a Mustang on the street doesn't mention that she would like one of those.
Frankly the 4.6L V8 Ford motor in stock form isn't all that tough. I ran a GT convert (probably an early 2000s model) with my Hemi Ram 2WD truck one night on a four lane. My 6000 lb. behemoth couldn't quite outrun it at speed, but niether could the Stang pass me until I backed out of it at 110 mph (don't try this in front of a state trooper or county mounty) after he we paced each other for a half mile at that speed. The truck's computer won't allow the engine to run any faster than 110 mph, though the 5.7L has much more to give. My truck has 20 inch wheels and is aerodynamically challenged compared to any car to say the least. I thought it gave the gearhead Stang a black eye in that he couldn't take me.
Forget about the other meat and potatos trucks from Ford and GM. I ran a buddy's '04 Chevy 6.1L 4WD 2500 after leaving work one morning. We ran from a dead stop, leaving at the same time from a stoplight on a four lane highway. I beat him bad coming out of the hole real bad. The Hemi just pulled real hard from the get-go and kept on trucking. I stayed well ahead of him on our way to triple digits. It wasn't until I let off 3/4 of a mile down the road that he caught up with me. After that, my jealous buddy could only say that Dodge trucks were "junk". I am not sure what that would make his Chevy, considering it got a bad ass-whipping from a junk Dodge truck!
You really shouldn't street race though. The only place I do race once in awhile is on this one four lane highway with limited access, so it's a little safer. I know that road really well. I also (normally) race late at night when there is little traffic.
Guess these episodes are testament to the fact that even the 5.7L Hemi has a lot of balls. If the 5.7 is fast in a big truck, wonder how much faster it would be in a lighter and more aerodynamic car? So, if you don't need the 6.1L to blow every mass produced car away, the 5.7L really offers a lot of fun for less bucks. Trust me, there won't be many other cars who will be able to pass you with either engine option.
If you want a few more ponies out of a 5.7, add headers and/or a good low restriction cat back exhaust system. Add a low restriction air intake and you should be making close to 400 HP with an 5.7L. Cost of such add-ons are currently around $2,000 for the Hemi Charger. This is something you could add at your liesure once you take delivery of your new Chally.