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Saleen Performance Vehicles (SPV) has just released its version of the 2010 Mustang, the 435S. The release of this 435 horsepower pony car comes just days after Steve Saleen announced he is suing SPV and its owner MJ Acquisitions for using his name.

For those not up to date on the continuing Saleen saga, Steve Saleen sold his company to MJ Acquisitions roughly a year ago and then promptly went out and opened up his own pony-car tuning shop, SMS Supercars.

But back to the 435S.

SPV unveiled that car during the Special Vehicle Team (SVT) Owners Association's annual Mustang Week event.

The "New Saleen" designed the 435S to deliver a lot of performance for a reasonable amount of money (although pricing has yet to be released).

The 435S gets its power from a Saleen Series VI twin-screw supercharger and two-stage intercooler and along with 435 horses it delivers 425 ft-lbs of torque through a five-speed manual transmission with a 3.73:1 rear end and a much-needed limited-slip differential.

To help out in the handling department the car gets a full Saleen Racecraft suspension adjustment with new shocks, a stiffer front sway bar and springs that help the car sit 1.5-inches lower than stock. A set of 18-inch wheels comes standard with both 19- and 20-inchers available.

As for the look of the car we have to say we're impressed, as the (optional) new front splitter and rear spoiler give a race-ready look. Inside there are also a few changes with a short-shifter, Saleen logos on the headrests and new gauges that keep the Mustang's MyColor setup.

"All in all, we believe the 435S is the right car at the right time," said SPV CEO Mike Shields. "It's a terrific performance value that we're proud to offer. And this is just the first of many great Saleen vehicles we'll be launching in the future."

More: Saleen Performance Vehicles Launches 2010 Mustang 435S on AutoGuide.com
 
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