Why not just get a 2003 Cobra and save a bundle. Then use that extra money to mod it. Most people I've seen with 03 Cobras stick on a kenny bell twin screw supercharger(more boost than the stock Eaton), different intercooler and full exhaust. That's all good for at least an extra 100 hp.
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92 Mustang GT, 347 Stroker(Forged Steel Crank/Rods-Balanced, Forged Aluminum Dished Pistons), Trick Flow Track Heat Intake, Trick Flow Twisted Wedge Heads w/ Stage 3 port/polish, 80mm C&L MAF, FMS 30# Inj., BBK AFPR, Trick Flow Stage 2 Cam, Trick Flow 1.6R Rockers, BBK E.L. Headers, Flowmaster Cat-Back, MAC CAI, FMS Pulleys, Griffin Alum. Radiator, MSD Pro-Billet Distributor; AOD, Dynamic 3300 Lockup Converter, B & M Super Cooler, B&M Ratchet Shifter; 3:73 gears.
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