So far I think the users that have submitted the best entries are:
erikm - I really like your logo that you have submitted and it is really top-notch, however, I do think that it is a bit boring. Can you perhaps spice it up with some more color, and maybe make the site name (Mustangin'!) stick out with color or something so that users will remember the name of the site? Also, I am not sure how I feel about the size of the logo/header yet, as I am questioning whether or not I would be able to implement this on the site effectively (maybe bigger is better?).
Erzael - I like your entry but it is REALLY plain. Also I don't like the fonts used, make it more colorful and/or more stylish?
watari - I really like where you were going but you need to change the fonts, I really hate the font you used for "Mustangin'" and the "m", maybe choose a font more effective - other than the the fonts you used were fine. Also, perhaps you can find an image of a nicer ford mustang to put up there, the one you chose is boring and very plain.

Everyone, you're all doing a fabulous job. Do keep the entries coming! It pleases me that I am in the presence of talented professional web designers.
I cannot wait to make the final decision of this contest's winner.

Remember, this contest ends on Monday!