I have 2 mustangs and I love the breed. However, I agree with Kevin. I was fortunate to get the ones that I did. They are fairly well conformed with only minor flaws. However, if you are looking for a horse that you can be competative on, mustangs are probably not the best choice. They generally don't have the speed needed for most gymkhana events and they have absolutely no natural cow savvy. Everything that you want them to know, they have to be taught, even more than your regular quarter horse. Mustangs have never been bred selectively for anything other than survival and thus, have no specialized mentality. Most quarter horses, paints, appys, and even some tbs will have some natural cow sense because they have been used for that for so many generations. Mustangs don't.
That being said, if you are just looking for a companion that you can have some fun with, a mustang might be just the horse for you. However, if you are less than a very experienced horseman that has trained many horses, you should really look for one that has been trained by a professional. Training a mustang is not like training a domestic horse, their fight/flight instinct is through the roof and many of the unhandled ones will turn on you with even the slightest pressure. These horses pretty well fit into the "jack of all trades, master of none" group. They make wonderful using horses so long as looking pretty or being perfect doesn't matter. I do challenging trail rides and some ranch work (penning, sorting, roping, etc.) and mine are wonderful partners for what I do. But, I don't care if something takes all day to get finished, and sometimes it does because they are just not as proficient as other breeds.
That being said, if you are just looking for a companion that you can have some fun with, a mustang might be just the horse for you. However, if you are less than a very experienced horseman that has trained many horses, you should really look for one that has been trained by a professional. Training a mustang is not like training a domestic horse, their fight/flight instinct is through the roof and many of the unhandled ones will turn on you with even the slightest pressure. These horses pretty well fit into the "jack of all trades, master of none" group. They make wonderful using horses so long as looking pretty or being perfect doesn't matter. I do challenging trail rides and some ranch work (penning, sorting, roping, etc.) and mine are wonderful partners for what I do. But, I don't care if something takes all day to get finished, and sometimes it does because they are just not as proficient as other breeds.