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They are pulleys for the accessories and crank that basically slow down the drive belt driven accessories. The idea being to put less drag on the motor. Depending on the engine they have varying success. From my experience they work pretty well on 302 Mustangs (10-15 rwhp) with no side effects, okay on the 4.6 Mustangs (5 rwhp with some charging effects; ie with the head lights, heater, and stereo on, there is enough power loss to dim the lights), and generally don't do shit for Hondas power wise and can actually cause problems since none of the manufactors for Honda under drive pulleys seem to see it fit to manufactor a descent harmonic dampener for the crank pulley.
I have no idea about the V6 Mustang parts. If he is comparing a 99+ V6 with 96-98 GTs then it is entirely possible that a few modifications would put him close or faster. The 96-98 GTs were dogs in the late 1970s caliber, ie very piss poor bad. The V6 has a weight advantage also...
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