292 HP, comes with the 6-sp auto tranny, better gas mileage, depending on the body style 9500 lb towing capacity, and they have been using the 3-valve in a lot of other vehicles since 05 timeframe. From Wikipedia:
4.6 L 3-valve SOHC V8 installed in a 2006 Ford Mustang
The 3-valve SOHC
4.6 L with variable camshaft timing (VCT)
first appeared in the redesigned 2005 Ford Mustang.
The engines are equipped with an electronic Charge Motion Control Valve
(CMCV) system that provides increased charge motion at low engine speeds for improved emissions and low-rpm torque. Cylinder block material varies between aluminum used in the 2005+ Mustang GT and cast iron used in the 2006+ Ford Explorer and the 2007+ Ford Explorer Sport Trac (see below), though the same aluminum heads are used in all applications.
The 3-valve SOHC 4.6 L engine was on the Ward's 10 Best Engines
list for 2005–2008.
Vehicles equipped with the 24-valve SOHC VCT 4.6 L include the following: