Well on the pushrod engines the cam is abouve the crank, but below the heads. Lifters sitting on the cam will push up the pushrods to open the valves.
The modular engine has an "overhead cam" which sits on top of the head. It pulls the valves open and closed.
The Cobra 4v Dual Over Head Cam (DOHC) enginehas two cams per head (one for intake & 1 for exhaust).
Also the 99 GT's do not have a fuel return line so there is no need for a Fuel Management Unit.
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'94 Cobra
308ci, ported GT-40 heads, Ford cam .512" lift and 284° duration, 70mm TB, Custom 80mm MAF, JMS chip, Vortech S-trim 8#, MSD, TREX fuel pump, Accel coil, 3.55's, FMS 1 5/8 headers, BBK Offroad H-pipe, and 2-chamber flows.
1994 Mustang Cobra (UPDATED!)
Check out the pics of my Motor Buildup!