I just got back from a dealer in Connecticut that has a pulse red GTO. The color is still more red than and not as dark or purplish the link provided in this thread. Im thinking the picture in the link was taken on a cloudy day or in the shade, but the color is still really really nice. It may not be available on the 05s though, I emailed Pontiac from their website to see what kind of answer I get.
Anyway I have been mulling over buying the 05 stang or the 05 GTO. I have looked at both pretty closely. The mustang can be bought around $6,000 less when using the x plan I can use from work, depending on what an 05 GTO can be bought for. As far as comparing the two cars, the mustang styling is very nice on the outside, interior is not so great, not as much room either inside, the gauge cluster is like having 2 soccer balls staring at you. I know its a retro thing but I like the modern instruments panels.
The GTO styling after looking at it for awhile is also pretty dam nice. The interior is a real plus with the GTO, laid out very well.
When you add the other important interior area under the hood the GTO has a big advantage. Anyway, pulse red or no pulse red, I will get the GTO this spring.