Is a 1997 mustang with 199,685 miles on it worth upgrading?

I just got my first car a few days ago. It's a 1997 ford Mustang V6 automatic. With 199,685 miles on it. It still sounds and runs great. Very responsive, and has a nice growl to it. Has a nice "get up and go" feel to it. My question is, is it worth it to put in money for interior and exterior mods due to the high mileage? Or would it be better to wait a few months ( i can set aside 500-600 a month) to get another used mustang (preferably a 1994-2000 GT v8 with less than 100k on it. They run around 2-3k around here) and upgrade that?

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