To be honest with you I would go with the Cobra. If you throw a blower on that 4.6 4V you'll have plenty of power and with some exhaust and a set of gears you'll be done.
Converting your V6 to a V8, you'll need the engine, rear axle, tires and wheels, ect.
Plus at the end of the day you own a COBRA! That is what I would do.
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