most electrical problems are from a bad ground, corroded connector or blown fuse (usually from the previous two problems or power surge). Do you have the schematic? Also, have you changesd any other electronics like the audio system or alternator? First trace back to any thing that was changed before you had the problem. If you put it something new and then had trouble, it may be a bad hookup. If you don't have the schematic for your car, I could probably scan a copy for you and send it it by email or fax.
Note: the horn on early mustangs does wear out and takes a bit of work to remove the steeering wheel to replace the contacts. Since it is on a relay with the raqdio, it is likely the problem. Also, check the ACC ciruit on the key switch. The key swithes are known to wear out as well and can be replaced while retaining your original key. See if other accessory items work while it is in ACC position (counter clockwise) on the key switch.
