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Europeans do it with acronyms: RS, GTI, HPE… In the Far East, they respect the official tuner decals: Nismo, TRD, STI, Mugen.

The ‘Mericans, though, they like to take another route; stick a set of Holley carbs poking out the bonnet, and make sure you got big lettering down the sides, ‘Boss'.

Ya gotta love it!

Any car called the Boss needs respect, especially when thereintroduced 2012 Mustang Boss 302 version boasts of possessing the best-handling chassis of any production ‘Stang ever.

Not only that, but Ford's even offering a limited edition model which gets rid of the rear seats and adds race suspension plus aero tricks. It's called Laguna Seca, commemorating Parnelli Jones' 1970 Trans-Am season opening win there in a Boss 302.

Ford calls this new Boss — 42 years after the original Boss 302 — a race car with a licence plate. There are even shouts of the Boss being quicker than a BMW M3 around Monterrey's famed circuit. A tall order you might think, but here's why these claims just might be true.

Starting with the 412bhp 5.0-litre V8, the engine team added a new intake, more aggressive camshafts and control calibration to yield 440bhp and 515Nm of torque. The clutch got beefed up too, while a short-throw six-speed manual ‘box delivers power toa 3.73 ratio rear axle using carbon fibre plates in the limited-slip diff, no less. Instead of 12-speakers or mood lighting, optional equipment in the Boss 302 is a Torsen LSD and Recaro seats.

Of course, it doesn't take a brainiac to get more power out of a Yank-tank, but Ford's also played around with the suspension to chop those lap times. There are stiffer springs on all four corners, stiffer bushings and a bigger rear anti-roll bar, as well as an 11mm lowering jobbie up front, and 1mm drop at the rear. The star attractions, though, are the five-way adjustable shocks and struts. Instead of electro-wizardry — which adds extra weight and complications — Ford simply asks Boss 302 customers to carry along their flat-head screwdrivers and dig into the shock towers themselves.

Lightweight 19in black alloy wheels (9in front, 9.5in rear) run Pirelli PZero tyres, helping the Boss 302 onto a top speed of 250kph and over 1g of lateral acceleration. Stoppers are Brembo four-pots atop 14in venteddiscs at the front. See how those claims are quickly starting to sound feasible?

Then there's that Boss look, which is achieved by taking cues from the 1969 original, meaning either black or white roof panels, blocked-off fog lamp openings and a new splitter closely mimicking the one on the 302R race Mustang. Inside, there's an Alcantara Boss steering wheel and the obligatory pool-cue shifter.

Man, it's good to be the Boss.

28bhp

Difference between the Mustang 5.0 GT's 5.0-litre V8 output and the Boss's 440 horsepower total

Who's the boss?

1965:  Boss 302
With a 16-valve 4.9-litre V8, the original Boss made 290bhp

1969: Boss 429
This 7.0-litre monster claimed 375 horses. It was closer to 500bhp...

1970:Boss 302
More than 7,000 302s were sold this year, against 1,600 in ‘69

1970:Boss 429
New model year added more body colours, but only manual trannies

1971: Boss 351
The ultimate fastback was rated at 330bhp from a 5.8-litre V8