Depends on what you mean by "handling" - I think the Mustang isn't nearly as fun to drive at 6/10 due to the steering ratio and lack of feedback from the road, although the performance is absolutely there. The S2000 lacks feedback as well but is fun as hell to drive with the top down and pretty much everything else is right on, you can't beat the transmission, the pedal placement is excellent, etc. I'd check out a BRZ or FR-S but you're unlikely to find one used, but if MSRP is "cheap" enough to make the cut that might be something to at least test drive.
I dunno dude I asked myself the same question and I ended up with a Z. If you want something considerably cheaper with better handling and the same class of performance it's going to be somewhat old and tired.
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