Ok, I have reviewed the 97GT and the 89GT mustangs, but currently I can't locate any better place to post this opinion that might save you 1000$. The intake manifold on the 1996 Mustang GT was made of a composite material. Unfortunately, the material was not strong enough to handle the horsepower of the V8, so at around 40,000 to 50,000 miles it cracked.
Intake manifold acts as a cooler where water and antifreeze circulates. You can probably drive your car for a few miles after there is no water in it, but its damaging and dangerous. You can even burn your engine doing this. And believe me, SOHC V8 does get hot. Ford recalled 1996 GT's and replaced the intake manifolds with more durable ones, which were used on 97 and 98 GT's.
If you do a research for a recall on your 96GT, you will find that there is one. Unfortunately, some of the 97GT's also came out of the factory with the weak manifold. There is no recall on the 97GT, and quite a few people have spent 1000 bucks on a new intake because of this.
Here is what Ford won't tell you. The intake manifold is really their problem, and even if your car is out of warranty, its their responsibility to replace it. If you own a 97GT, and your intake cracks, do not pay for a new intake. Take it to Ford, and tell them what happened. They will say that there is no recall on your car. Act like you know what you are talking about, and tell them you spoke to Ford and they said there is a 'program' on the manifold. They will change it within a day at no cost to you, given that the manifold is indeed cracked. Make sure that it is, otherwise they will charge you 100$ just for looking at it.
Also, you can get the SVO supercharger or the aliminum SVO intake with a 500$ discount if you loose your manifold. The supercharger is 3k, and will be dropped down to 2.5k -- its worth about 100HP. The aliminum intake is worth about 20HP, and is a good base power-mod if you are planning to go real fast in the future. (ex. get a Vortech S. Trim, etc.)