Bo is correct, 2005 and later Mustangs are a hydro clutch. My 93 Mustang GT had a cable, know that for sure because I had to replace it and added an aftermarket adjuster to it. My 03 Mustang Cobra had a cable also.
What did the 93 Cobra have in it?
What did the 95 Cobra have in it?
More Mustang trivia, lets see how good my memory is! Both the 93 and 95 Cobra's used a T-5 transmission, the 95 Cobra R had a 3550 tremec in it, along with a 351 motor. I think the 2000 Cobra R was the first Mstang to have the T-56, then the 03/04 Cobra's had the T-56 also. Al least that is what I recall anyway, could be wrong, my memory isn't what it used to be!
As far as a hydro clutch on a 700XX, if you have the money, might as well try it. Although I was always under the impression that a hydro clutch didn't really help much with the lever pull, just kept it more consistant so you wouldn't have to adjust the cable as the clutch would get hot/worn. My uncle has a KTM 525 bike with a hydro clutch, never really noticed much of a difference in clutch pull whenever I have ridden it compared to everything I own with a cable clutch.
Doug