Jeez Al, you ask for opinions and you're liable to get some!!

You've got the right idea with those tail lights, they look like they were made for that back panel. Unless you're a Shelby nut I don't see any percentage in your doing a "faithful" clone. It'll still be a clone when you're done.

Like always, we each have a picture in our head of what we want. You've probably got a pretty clear one in yours. Is it just like you've described? Or have you over thought it and started making compromises to fit what you've got on hand? I don't know, just askin'. I know I've done that, and then when I'm done I either cuss myself, or go back and change what I've done to what I should have done in the first place.

Now I'll be the guy Mike talked about. I come from the school of thought that the wheels make the image. The GT wheels you've got have their place, but to my eye they're a bit "flat" for the "texture" of this body style, particularly once you do the scoop mods you've described. I see the car with 17" hoops, the newest Torque Thrust II's with the grey centers. These harken back to the Can Am days, but, because of their size they add just a bit of the modern touch without going tuner. I know, they're a bit spendy compared to what you've already got on hand, but they'll make the "look". Of course the car needs to be lowered a bit to complete the image. You didn't mention whether to put in the sail panel windows like the Shelby, but then, the '65's didn't have those, '66 was the year they appeared. I think it would look fine with the stock "vents".

As for color either the Poppy Red with silver stripes, or the burgundy with gold (warmer colors to warmer colors thing) would work for me. Or, skip the stripes altogether and go for the "clean" look. But then, I'm a red kinda guy anyway.

Definitely shave the emblems. Avoid spoilers, and keep the stock front valance.

Whichever way you go, you're gonna have fun!!