I will guess that it is now Bill Reinschild's "Risky Business". It looks like the plain metal aircraft that he owns, and it is over Van Nuys, which is where Reinschild keeps his present steed.
Very reasonable guess, but not right Fred, sorry.
How about race 28 tipsy too then N100DD. Owned by the late John Sandberg. The light in the top of the tail is a dead givaway. Went on to be N345 Miss Ashley, now still in Switzerland?
The only one I've seen with a streamlined light on the tail like that one was John Sandberg's Tipsy Too which then became Miss Ashley and is now in Europe.
Sweet picture. P-51 over L.A. neighborhoods. Love it..It's different than Mustangs over La Grande Oregon.
So where did Tom Cruse find his Mustang.Van Nuys? Canadian left over?