By now you know that the 2013 Ford Shelby Mustang GT500 will deliver 650 horsepower courtesy of a specially designed and purpose-built 5.8-liter supercharged V8 engine. That’s right, 650 horses with a top speed of 200 mph, right off the showroom floor and backed by a Ford factory warranty.

But that’s not enough for 89-year-old Carroll Shelby. During the last year or two, he talked nonstop about his “1,000-hp Mustang.”

“I know we can do it, and we’re close,” Shelby said. “I want this to be the fastest car we’ve ever built, and it’s got to be street legal and idle like a Lincoln.”

The development work and testing are done, and the result is the Shelby 1000. In fact there are two Shelby 1000 models. The first is the “street” version, cranking out 950 hp and smog-legal in all 50 states. Lest you think that the big number is only the result of cranking the boost up on a 750-hp GT500 SuperSnake — no. The factory 5.4-liter engine is stripped to the block and given some serious machine work in anticipation of a new crank, rods and pistons. The heads also get a flow job, and the whole deal is topped by a new supercharger. The other powerful new Shelby is called the 1000 S/C, and it’s built primarily as a track car. The much-warmed-over 5.4-liter four-cam V8 in this one is good for 1,100 horses.

Some Shelby American-built or modified Mustangs have been criticized for wearing too many different badges. Not so for the 1000. The front fascia gets a makeover, and the wheelwells are stuffed with forged alloy Shelby 1000 20-inch wheels exclusive to this model, plus massive brakes capable of corralling the big motor. The Shelby identification is present of course, but it’s relatively subtle. The car looks the part, no doubt, but remains classy.

Naturally the fuel and exhaust systems get a major makeover, as do the suspension and interior. Ancillary gauges are mounted in a unique instrument cluster on the driver side A-pillar.

The post-title street package for the Shelby 1000 starts at $149,995 and the track S/C version starts at $154,995, not including the base GT500. A completed Shelby 1000 is expected to be approximately $200,000.