well lessee. The Fox-body's design spans from 1979-1993(?) I would not call a car that's design came from the late seventies a 'late model'. And the 'F-body doesn't exist' thing is pretty lame. If you wanna be lame, let me bring up the Mustang II.
And are you trying to tell me that a Windsor is a better engine than a Cleveland? Please tell me you aren't. The Cleveland is WORLDS better than the weakling Windsor motor. And as for motor mounts and fabbing up stuff, the 351C/W/M are very similar to the small block 302. The 351 can and has been transplanted into several Mustang IIs and Fox-bodies before, so it isn't a bad idea.
Now as for your 'FI engines are some of the most powerful in the world' thing and then 'FI engines usually have better driveability'. Those two sentences don't match up. Those powerful FI cars tend to be very POOR in the handling area. AKA funny cars. Just try to drift one of those...I don't mean to be drastic, but meh. The handling and driveability is really dependent on the vehicle. Now, your MPG issue is valid. It takes a lot of fuel to make NA power, but it is becoming a little easier due to modern performance fuel-injection.
And as for the '03 Cobra. It's a fast car. I admit that. I just think other alternatives could yield a more interesting, and potentially more powerful vehicle than a factory tuner car put out by Ford. Just my opinion.
I like a good conversation. This is fun.
