Don't know where the photo was taken, but it is either John Schauffhausen (sp?) or Gene Stocker's Crips A' Mighty 3rd (now owned by Kermit Weeks). Schauffhausen got the aircraft from Australia in the 1970s and restored it. Gene Stocker bought it and raced it at the Homstead Air Race in 1979.
In the mid to late 70's, I saw my first Mustang in person at a local airshow ( New Philadelphia, Ohio ). This could possibly be that Mustang, since it was painted as Cripes A' Mighty 3rd. As I remember it was in aluminum paint back then. Gene Stocker was probably the owner before Kermit Weeks accquired it. Comparing the photos from the web and the current photos from GML. The features such as the 6 rocket stubs and drop tanks look the same. The paint scheme looks like an earlyer D-Day version with less kills than the current example. Also the invasion stripes go all the way around the wing and rear fuselage as well as having the black stripe behind the P on the rudder. This aircraft would be # 45-11507 N921 of the Weeks air museum Fl. Kermit has done a fantastic job restoring N921 in the polished Aluminum / Blue nose scheme of Major George E. Preddy, 352nd fighter group, Bodeny,England. Preddy, being the leading ace of the ETO unfortionatly did not survive the war.
I might be wrong, but I believe this picture was taken in the mid-90's at NAS Moffet Field, located in Sunnyvale Ca. If you look at the control tower, you will notice the blue sign. I probably have a picture of this mustang buried along with other pictures from that air show.
That is John Schaufhausen then of Hayden Lake, Idaho at Sand Point Naval Air Station. Most likley 1974, I was supposed to be there.
This Mustang was owned by John Schauffhausen and is the one that Kermit Weeks purchase and restored correctly with my research as Preddy's Cripes 3rd. I no longer remember the year when an article appeared in Air Classics, but it featured Johns' restoration of the Mustang and someone made the statement in one of the captions regarding the correct number of kills that would have been displayed on the Mustang. Having just completed a very long research period along with Preddy's cousin Joe Noah in preparation of a biography we co-authored, I wrote Air Classics back with a response and copied the letter to John Schauffhausen. He replied informing me that he had just completed selling it to Kermit. I contacted Kermit and told him that if wished to redo it in the correct markings, I could help him with it. The rest is history.
I have a model that I bougtht a while back so I don't have the box that it came in. I looks exactly like the second pic except there is an M on the tail, no stripes on the belly and there is a decal In front of the HO on the side. The company name is NewRay.