I've always had a soft spot for mustangs and that's one of the best. Bet that cost him a small fortune if its all numbers matching and original
As for the GT350 it doesnt really mean anything it's just the model of the car.
A small tip if he ever wants/needs to sell her, ship it back to america as cars like that are going for stupid money over there. Alot of the muscle cars in england are being shipped back by their owners as they're making so much money on them.