You saw this coming, right?

Ford announced last week it would offer a Boss 302 package on the 2012 Mustang— not just a stripe kit but a street-legal, track-day car built to take on some of the best high-performance cars in the world.

“The decision to build a modern Boss was not entered into lightly,” said Derrick Kuzak, group vice president of Ford Global Product Development. “The entire team at Ford felt the time was right and with the right ingredients, the world-class 2011 Mustang could support a successful, race-bred, worthy successor to the original Boss 302. For us that meant a production Mustang that could top one of the world’s best – the 2010 BMW M3 – in lap times at Laguna Seca. We met our expectations.”

Ford says the Boss will have a top speed of 155 MPH and be the first non-SVT Mustang ever to achieve more than 1.0 g of lateral acceleration.

Starting with the 412hp 302 from the 2011 Mustang GT, Ford added a new intake, revised camshafts and a more aggressive ECM tuneup to yield 440hp and 380-lbs.ft. of torque from the Boss engine.

“The Boss 302 isn’t something a Mustang GT owner can buy all the parts for out of a catalog or that a tuner can get by adding a chip,” said Dave Pericak, Mustang chief engineer. “This is a front-to-back re-engineered Mustang with every system designed to make a good driver great and a great driver even better.”

The Boss also gets a sturdier clutch, a short-throw, close-ratio six-speed manual transmission and a 3.73:1 gear with a limited-slip differential. A torque-sensing Torsen differential is available as an option (but comes in a package along with Recaro front seats.)

The Boss also includes higher-rate coil springs at all four corners, adjustable shocks and struts, stiffer suspension bushings and a larger-diameter rear stabilizer bar. The Boss sits 11 millimeters lower up front and 1 millimeter lower in the rear than the standard Mustang GT.  Shock adjustments, Ford says are made at the top of the shock tower, and are easily accessible from under the hood or inside the trunk with a small flat-head screwdriver.

Boss 302s will ride on lightweight 19-inch black alloy racing wheels in staggered widths, 9 inches in front, 9.5 inches in the rear, shod with Pirelli PZero 255/40ZR-19 front tires and steam-roller-sized 285/35ZR-19 rears.

Braking is via Brembo four-piston front calipers acting on 14-inch vented rotors up front. In the back, standard Mustang GT brakes are upgraded with a Boss-specific high-performance pad compound. The Boss also receives unique low-compressibility brake lines that expand up to 30 percent less than traditional flexible brake lines.  The result, according to Ford, is a stopping distance some three feet shorter than a standard GT from 60 MPH.

For styling, Ford says it turned to the ‘69 Boss and the Bud Moore/Parnelli Jones Trans Am race cars. The new Boss will have either a black or white roof panel, coordinated to the color of the side C-stripe. Available exterior colors are Competition Orange, Performance White, Kona Blue Metallic, Yellow Blaze Tri-Coat Metallic and Race Red.

Up front, a unique fascia and grille are highlighted by the blocked-off fog lamp openings and aggressive lower splitter, a version of the design used on the Boss 302R race car. The front splitter is designed to function at high speeds by moving the air under and around the car, reducing underbody drag and front end lift while forcing air through the Boss-specific cooling system. At the rear of the car, the spoiler was chosen to complement the front aero treatment and minimize overall drag.

Inside, a unique Boss steering wheel covered in Alcantara suede complements the standard seats, which are trimmed in cloth with a suede-like center insert. A dark metallic instrument panel finish, gauge cluster and door panel trim also differentiate the Boss from the GT. There’s also a black pool-cue shifter ball and “Powered by Ford” door sill plates to further remind customers that the Boss is back. Finally Ford removed 11 pounds of sound-deadening material to lighten the car and let drivers experience the 5.0 Coyote’s howl.

But wait there’s more! If the standard Boss isn’t hairy enough, customers will also be able to opt for a Laguna Seca package that will among other things include: R-compound tires, rear seat-delete, a more aggressive front splitter/rear spoiler and rear cross-car bracing that Ford says will boost lateral acceleration to 1.03 g. Expect to pay between $30,000 and $50,000, or less than the price of a new Shelby GT500.