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I had the fortune of running 2 Cobras within an hour of each other on Sunday.
The red one had side pipes that sounded very sweet and was lowered. He handled me rather easily, shutting down about 2 lenths ahead. This was a late-late model 300+ horsepower version(maybe a 96-99, not an 03).
The white one was an earlier 94-95 model with the lower horsepower 5.0, we were pretty much even because I picked up some ground when he shifted.
Then, I lost by a lenth to a 98+ Ram Air T/A automatic 2 weeks ago. :cry
I just could not gain any ground on these guys with my stock TPI drivetrain. The only cars I can totally destroy are ones with more than half my HP, no fun there. Now I know how all you modded guys get started with the mods! :lol: It's frustrating.
Bet the Cobra guys went on the SVT board bragging about killing a Corvette! :crazy: Arrrrgggg!
I suggest you start with a 160deg stat and fan sw, toss the frisbee (pic on my site) from your water pump pulley, install a K&N air tilter with a cut lid or an SLP ram air, cut back your spark plug ground electrodes (pic on my site) and install an AFPR.
Do NOT install an aftermarket chip; put the $$ into other mods.
These are relatively inexpensive easy mods to start and should net about a 30-40hp gain. That's enough to easily take care of that 2-car length business.
The exhaust is more expensive but will net some nice gains: either full-length headers or a 2 1/2" front Y, hi-flow cat, and hi-flow cat-back will add another 20hp or so.
You can do some cheap intake work: gut the MAF, port the plenum and siamese the intake base.
Some 1.6:1 RRs will then allow you to raise the shift points; install a 2,000rpm TC and shift kit to bring down your ET even further.
I'm sending you some data on results of mods to a late L98.
Have you had the car at the track? It wouldn't hurt to find out where your car is before you start with the mods. If your really getting your ars handed to you by Mudstains something might be amiss.
I am sure there is some bad pre Lt-1's out there, but those stang owners know who they can mess with. The sky is the limit on mods, and it's hard to beat a modified Mustang without having mods yourself. Now I must say... I do kick Mustang butt every chance I get. When I catch'em at a light... they just act like they are busy with something else. I do know better though because I didn't always drive a Vette. There is NO doubt the Vette is a Mustang killer. Do Stang like messing with LT-1's... :nono: Here is why :smash:
If you don't want to do a lot of mods I would start with K&N filter and a good exhaust system. Then a set of 1.6 ratio rockers. I would love to run a corbra but the ones around here will not run me I guess they prefer to pick on old L98's that are stock. When one pulls beside me at a light and hears the whine from under my hood they seem to loose all interest in running. :lol: