I'd say go for the 96-98 Cobra. They are a little quicker than a 99+ GT and you can usually find great deals on them. If you've got the cash, get a newer Cobra. This is coming from a '00 GT owner, too. At the time I bought I couldn't get a decent interest rate on a used car and they were marking up the Cobras $10K. I love my GT, but I do think that the 4-cam motors are a much better base to start with.
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Strike down the unroadworthy!
2000 GT Atl. Blue: '03 Cobra motor - 465rwhp/473rwtq, T-56 6-speed, full MM TA/PH & tubular K-member suspension, Saleen body, 17" Torq-Thrust II's, M/T ET Street radials, and lots more
'94 Rio Red Cobra: All the bolt-ons, 3.73s
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