I have to agree with you on a lot of what you have said. In 2001 I was disapponted in the Bullit Edition, just a warmed over GT. While I am a Steve McQueen fan, the name did not reflect on the Mustang Heritage.
Check out Cervini's Ad in the October issue of Muscle Mustangs and Fast Fords. The B-2 Kit for S-197 Mustangs is 1969 Mach/Boss retro. Four Headlights, lots of black paint on the hood, shaker scoop, you can even get the "C" side strip inspired by the 69' Mach's. The only thing missing are the wire hood pins, and that is easy to fix.
If I subscribed to the "California Credo" of personalizing Cars (spend 1/2 of purchase price personalizing with aftermarket parts). This is the way I would go with an S-197 platform Mustang.
Hopefully Ford is watching what the aftermarket is doing, and seeing what is getting good feedback from Mustang Fans. It would be nice to see something very similar from Ford, with a 5.0 DOHC motor, and the Boss name applied to the sides. The engineeers from Saleen have done the work on the 5.0 motor for the Parnelli Jones edition. It is just sitting there for Ford to pluck off the shelf.