From my personal experience I'd have to say go with the GT. A good friend of mine owns a 94 Cobra and there just isn't much too them other than the name. It's not extremely quick, in fact it can only pull 1/2 a car length on me. With that said, if you have the money... get the Cobra.
There's something about that snake on the side that gets attention, even if it's as slow as a GT.
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'95 GT Convertable