Well, I bought my 94 Cobra with 94000miles on it, and it still runs great. The 5.0 is a very durable engine. If you do buy it, make sure you give it a good tune up.
The stock 302 block is very stout, and the parts to beef it up if something breaks are not too expensive. I'm sure you'll eventually be putting heads, intake, cam, and all that good stuff on it anyway, so don't worry too much about mileage. 77k is not bad at all.
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Black 2000 GT Auto
V2-SQ, Full Steeda G-trac Suspension, Baer Brakes, Saleen Body Kit, Corbeau CR1s, Chrome Cobra R's, etc, etc...
341rwhp, 338 torque
1994 Cobra #4343
Bolt on's only...
Cofounder of Raccoon Racing
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