Tony,
He did decide to restart it, I got notified by him just a few days ago, and told him I would post it on the forums I am a member of. He also is looking for a 65 or 66 I think 6 cylinder coupe in halfway decent condition in the $20,000 price range to restore.
I believe he decided to abandon the Mustang Six association last year because he did not get the membership he was expecting in the time frame he had set. From what he has mentioned in his e-mails that he is getting a good response to the "reboot" as I call it. Hopefully with a lot of attention on the Mustangs due to the 50th anniversary the association will gain a good membership base.
Terry