I don't remember the offsets off the top of my head. I'd look it up but I'm about to pass out!
Steering settings... the 5.0 has the EPAS system (all electric) and on the 2012+ you can manually select I believe three settings... comfort, sport, and something else. You have to cycle through the setup menu to find it. Basically if you think the comfort setting is too soft you can tighten the wheel up a bit.
Sport Mode... hold the brake and tap traction control twice. Now you have more liberal traction control and stability control. On the Mustangs TC and SC are separate systems (you can turn TC off but SC will stay on, you can turn them both off, or you can turn sport mode on). Sport mode on the Brembo-equipped cars is even sportier than the base, but the base should still let you slide the car around a good bit before intervening, and when it does it usually does it smoothly and makes you look good.
On my 11 the only way for me to change the steering is to engage sport mode... which is fine, since I always drive in sport mode.