This thread is kinda old so I don't know if you've done anything yet or if you'll even see this(but here goes). The electronics(here after known as the MAF or mass air) will compensate for your bolt ons, thats the beauty of it.
What I'd be worried about is the clearance for the 1.7 rockers, on the valve covers, with the E cam. You're wanting 1.6s anyhow so.. I think it will work fine. No power adder, that fine, the 93s don't have forged pistons anyhow.. 6#s of boost 'shouldn't' hurt it though.
My suggestion would be to get a bigger MAF and have the heads ported, when you have the cam and rockers installed.
Traction- First and foremost, you are going to want better tires and maybe lower control arms. Upper control arms may stiffen up the rear and help but the lower is the main thing. I've heard the uppers are a PITA to remove too.
Last but not least- Do you really want to do alot of modifing to that 93 Cobra? They only made like umm.. 5003 of them and they are an 'in demand' car. Its a collectors item and I personally wouldn't do too much to it.